As of Q1'26, Sea Limited (SE) reported cash and short-term investments at $12.76B USD, marking a slight quarterly decline of approximately $281M from Q4'25's $12.79B, while debt stood at $3.58B USD, up modestly by $254M from the prior quarter's $3.33B. Over the period from Q2'23 to Q1'26, cash and short-term investments exhibited strong overall growth, rising from $5.70B to $12.76B—a net increase of over 124%—with notable acceleration in later quarters, including a peak surge to $12.79B in Q4'25, though early 2024 saw a temporary dip to $5.40B in Q1'24. In contrast, debt remained relatively stable and trended downward overall, fluctuating between $4.15B and $4.61B through Q3'25 before dropping sharply to $3.33B in Q4'25 and edging up to $3.58B in Q1'26, resulting in a net reduction of about 21% from the starting $4.56B and underscoring improved liquidity with cash consistently exceeding debt by a widening margin.