As of Q4'25, Unity Software's cash and short-term investments reached $2.06B, marking a robust increase from the prior quarter, while total debt stood stable at $2.24B. This latest data point reflects improved liquidity, with cash reserves now exceeding debt levels for the first time in the observed period, covering the timeframe from Q1'23 to Q4'25. Over the 12-quarter span, cash and short-term investments exhibited an overall upward trend, starting at $1.59B in Q1'23, dipping to a low of $1.18B in Q1'24 amid potential operational pressures, then recovering strongly with consistent growth to $2.06B by Q4'25, representing a 29% net increase. In contrast, debt remained largely stable with minimal fluctuations, declining modestly from $2.71B in Q1'23 to $2.24B in Q4'25—a 17% reduction—primarily through a one-time deleveraging in Q1'24, highlighting improved balance sheet health and reduced leverage risk for financial analysts.