As of Q4'25, SOUN's cash and short-term investments stood at $248M USD, reflecting a modest quarterly increase from $269M in Q3'25, while debt remained low at $4M USD, down slightly from $5M in the prior quarter. This positions the company's liquidity favorably, with cash reserves significantly outpacing debt obligations. Over the period from Q1'23 to Q4'25, cash and short-term investments exhibited volatile growth, surging from $46M to a peak of $269M in Q3'25 before stabilizing around $248M, driven by notable expansions in Q1'24 ($212M) and Q3'25. In contrast, debt trended downward overall from $39M in Q1'23 to $4M in Q4'25, with sharp reductions in Q2'24 ($5M) and Q4'24 ($4M), indicating improved financial health and reduced leverage despite intermittent fluctuations in Q3'23 ($90M) and Q3'24 ($44M). This pattern underscores a strengthening balance sheet, with cash consistently dwarfing debt levels post-2023.