As of Q4'26, ARM's cash and short-term investments reached $3.60B, marking a robust increase from the prior quarter, while debt stood at $432M, showing slight stability after a period of growth. This latest data point reflects a strong liquidity position, with cash reserves significantly outpacing debt levels. Over the period from Q1'24 to Q4'26, cash and short-term investments exhibited an overall upward trend, growing from $2.05B to $3.60B with notable accelerations in Q4'24 ($2.92B) and Q3'26 ($3.54B), though a temporary dip occurred in Q2'25 ($2.36B). In contrast, debt increased steadily from $223M to $432M, with sharper rises in Q4'25 ($346M) and Q2'26 ($410M), yet it remained a small fraction of cash holdings throughout, underscoring ARM's improving net cash position and financial resilience.