As of Q4'25, Rivian (RIVN) reported cash and short-term investments at $6.08B USD, marking a decline from the prior quarter's $7.09B USD, while debt stood stable at $4.99B USD, resulting in a net cash position of approximately $1.09B USD. Over the period from Q1'23 to Q4'25, cash and short-term investments exhibited a consistent downward trend, dropping from a peak of $11.24B USD in Q1'23 to $6.08B USD, with notable accelerations in declines during Q1'24 ($7.86B USD) and Q3'25 ($7.09B USD to $6.08B USD), reflecting potential liquidity pressures amid operational scaling. In contrast, debt showed moderate growth from $3.31B USD in Q1'23 to $4.99B USD in Q4'25, with a significant jump in Q4'23 ($5.12B USD) and relative stability thereafter around $4.8B-$6.3B USD, indicating a strategy of controlled leverage that has narrowed the net cash buffer over time.