PART I [Item 1. Business.](index=5&type=section&id=Item%201%2E%20Business%2E) Aurora develops the Aurora Driver, a self-driving platform for trucking and mobility, commercialized via a DaaS model - Aurora's mission is to deliver the benefits of self-driving technology safely, quickly, and broadly[14](index=14&type=chunk) - The core product is the Aurora Driver, a self-driving hardware, software, and data services platform designed to adapt across various vehicle types and applications[15](index=15&type=chunk)[35](index=35&type=chunk) - The company intends to commercialize the Aurora Driver using a 'Driver as a Service' (DaaS) business model, where it supplies self-driving technology and earns revenue on a fee per mile basis, partnering with automotive companies and fleet operators[17](index=17&type=chunk)[37](index=37&type=chunk) - Aurora plans to launch its driverless trucking subscription service, Aurora Horizon, as its first commercial product, followed by passenger mobility (Aurora Connect) and local goods delivery[15](index=15&type=chunk)[21](index=21&type=chunk)[22](index=22&type=chunk)[24](index=24&type=chunk) - Strategic partnerships include PACCAR & Volvo (Class 8 trucks), Toyota (vehicle manufacturing), Uber (ride hailing), and Continental (technology manufacturing and Tier 1 automotive supplier)[17](index=17&type=chunk)[32](index=32&type=chunk)[53](index=53&type=chunk)[54](index=54&type=chunk)[55](index=55&type=chunk)[57](index=57&type=chunk)[58](index=58&type=chunk) - Key technological differentiators include proprietary FirstLight Lidar (FMCW technology) for long-range sensing and simultaneous position/velocity detection, a hybrid machine learning and engineered approach, a common driver platform, a proprietary Virtual Testing Suite, and scalable high-definition maps[17](index=17&type=chunk)[29](index=29&type=chunk)[41](index=41&type=chunk)[45](index=45&type=chunk)[48](index=48&type=chunk) - As of December 31, 2023, Aurora has an approximately **1,800-person team**, with about **1,600 focused on engineering and product**, and holds over **1,600 awarded and pending patents** worldwide[17](index=17&type=chunk)[28](index=28&type=chunk)[52](index=52&type=chunk) [Corporate History and Background](index=5&type=section&id=Corporate%20History%20and%20Background) [Company Overview](index=5&type=section&id=Company%20Overview) [Commercialization & Growth Strategy](index=7&type=section&id=Commercialization%20%26%20Growth%20Strategy) [Aurora's Competitive Advantages](index=9&type=section&id=Aurora%27s%20Competitive%20Advantages) [Our Product](index=10&type=section&id=Our%20Product) [Technology](index=11&type=section&id=Technology) [Our Culture](index=13&type=section&id=Our%20Culture) [Competition](index=13&type=section&id=Competition) [Intellectual Property](index=14&type=section&id=Intellectual%20Property) [Material Agreements](index=14&type=section&id=Material%20Agreements) [Government Regulation](index=15&type=section&id=Government%20Regulation) [Corporate Social Responsibility and Sustainability](index=16&type=section&id=Corporate%20Social%20Responsibility%20and%20Sustainability) [Diversity and Inclusion](index=16&type=section&id=Diversity%20and%20Inclusion) [Sustainability](index=16&type=section&id=Sustainability) [Employees](index=16&type=section&id=Employees) [Corporate Information](index=17&type=section&id=Corporate%20Information) [Available Information](index=17&type=section&id=Available%20Information) [Item 1A. Risk Factors.](index=17&type=section&id=Item%201A%2E%20Risk%20Factors%2E) Aurora faces risks from technical commercialization, ongoing losses, competition, capital, and regulatory hurdles - Aurora has incurred net losses of **$796 million** in 2023 and **$1,723 million** in 2022, and expects to incur significant expenses and continuing losses for the foreseeable future[74](index=74&type=chunk) - The company operates in a highly competitive market with some participants having substantially greater resources, posing a risk if competitors commercialize superior technology earlier[81](index=81&type=chunk) - Aurora's business plans require significant capital, and future needs may necessitate additional equity or debt financing, potentially diluting stockholders[90](index=90&type=chunk) - The company is subject to cybersecurity risks impacting operational systems, security systems, infrastructure, integrated software, and partners' data[99](index=99&type=chunk) - Burdensome or inconsistent regulations, or a failure to receive regulatory approvals or exemptions for its technology, could materially and adversely affect business operations[122](index=122&type=chunk) - The market price and trading volume of Aurora's common stock may be volatile and could decline significantly due to various factors, including market expectations, competition, and economic conditions[167](index=167&type=chunk) [Risks Related to Our Technology, Business Model and Industry](index=19&type=section&id=Risks%20Related%20to%20Our%20Technology%2C%20Business%20Model%20and%20Industry) [Risks Related to Our Business Operations](index=24&type=section&id=Risks%20Related%20to%20Our%20Business%20Operations) [Risks Related to Our Dependence on Third Parties](index=31&type=section&id=Risks%20Related%20to%20Our%20Dependence%20on%20Third%20Parties) [Risks Related to Our Legal and Regulatory Environment](index=33&type=section&id=Risks%20Related%20to%20Our%20Legal%20and%20Regulatory%20Environment) [Risks Related to Our Intellectual Property Rights](index=37&type=section&id=Risks%20Related%20to%20Our%20Intellectual%20Property%20Rights) [Risks Related to Ownership of Our Securities](index=41&type=section&id=Risks%20Related%20to%20Ownership%20of%20Our%20Securities) [Item 1B. Unresolved Staff Comments.](index=50&type=section&id=Item%201B%2E%20Unresolved%20Staff%20Comments%2E) The company has no unresolved staff comments from the SEC - There are no unresolved staff comments[180](index=180&type=chunk) [Item 1C. Cybersecurity.](index=50&type=section&id=Item%201C%2E%20Cybersecurity%2E) Aurora has a robust cybersecurity risk management program, led by the VP of Security Engineering, integrated with overall risk management - Aurora's Information Security team, led by the Vice President of Security Engineering, has implemented a robust cybersecurity risk management program integrated with overall risk management[180](index=180&type=chunk) - The program includes a cybersecurity incident response procedure (CIRP) for detection, investigation, and mitigation of incidents[180](index=180&type=chunk) - Periodic internal and third-party assessments are performed, with results reported to the Board of Directors and senior leadership[182](index=182&type=chunk) - As of December 31, 2023, the company does not believe cybersecurity risks have materially affected or are reasonably likely to materially affect its business strategy, results of operations, or financial condition[183](index=183&type=chunk) [Risk Management and Strategy](index=50&type=section&id=Risk%20Management%20and%20Strategy) [Risks from Threats and Incidents](index=51&type=section&id=Risks%20from%20Threats%20and%20Incidents) [Governance](index=51&type=section&id=Governance) [Item 2. Properties.](index=51&type=section&id=Item%202%2E%20Properties%2E) Aurora's corporate headquarters are in Pittsburgh, PA, where it leases significant office and industrial space, including a test track - Corporate headquarters are located in Pittsburgh, Pennsylvania[185](index=185&type=chunk) - Leases approximately 590,000 square feet of office and industrial space in Pittsburgh, with leases expiring between 2024 and 2035[185](index=185&type=chunk) - Leases a 42-acre test track facility in Pittsburgh, with the lease expiring in 2024[185](index=185&type=chunk) - Maintains other leased office and industrial facilities in Mountain View, San Francisco, Bozeman, Dallas/Fort Worth, El Paso, Houston, Seattle, Livonia, and Louisville[185](index=185&type=chunk) [Item 3. Legal Proceedings.](index=52&type=section&id=Item%203%2E%20Legal%20Proceedings%2E) Aurora is subject to various claims and lawsuits but none are considered material or likely to have a material adverse effect - No currently pending claims, lawsuits, or proceedings are considered material to the business or likely to result in a material adverse effect on future operating results, financial condition, or cash flows[186](index=186&type=chunk) [Item 4. Mine Safety Disclosures.](index=52&type=section&id=Item%204%2E%20Mine%20Safety%20Disclosures%2E) This item is not applicable to Aurora Innovation, Inc - This item is not applicable[187](index=187&type=chunk) PART II [Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.](index=

Aurora Innovation, the autonomous vehicle technology company aiming to launch a “driverless” self-driving trucks business by the end of 2024, laid off dozens of workers this week, according to sources familiar with the action. The Pittsburgh-based company, which also has facilities in California, Colorado, Texas and Montana, has since confirmed that about 3% of its workforce was laid off following an organizational review.Aurora employed about 1,800 workers as of the end of 2023, according to the company.“A ...

Aurora Innovation, Inc. (NASDAQ:AUR) Q3 2023 Earnings Conference Call November 1, 2023 5:00 PM ET Company Participants Stacy Feit - VP of IR Chris Urmson - Co-Founder and CEO David Maday - CFO Conference Call Participants George Gianarikas - Canaccord Genuity Chris McNally - Evercore ISI Wyatt Swanson - D.A. Davidson Mark Delaney - Goldman Sachs Jeffrey Osborne - Cowen and Company Operator Hello, and welcome to the Aurora Third Quarter 2023 Business Review Call. [Operator Instructions] A question-and-answer ...

Equity Financing - Aurora completed a private placement on July 21, 2023, selling approximately 222 million shares of Class A common stock at $2.70 per share, raising $584 million net of transaction costs[67] - Aurora completed a public offering on July 21, 2023, selling approximately 73 million shares of Class A common stock at $3.00 per share, raising $212 million net of transaction costs, with an additional 11 million shares issued for $32 million due to underwriters' overallotment[68] - The company raised $853 million in equity capital during Q3 2023, with net proceeds of $828 million after transaction costs[82] - Net cash provided by financing activities surged to $827 million for the nine months ended September 30, 2023, driven by net proceeds from the Private Placement and Public Offering[86] Financial Performance - Research and development expenses increased by $12 million (7%) to $182 million in Q3 2023 compared to Q3 2022, driven by higher personnel costs[74] - Selling, general and administrative expenses decreased by $3 million (9%) to $30 million in Q3 2023 compared to Q3 2022[74] - Net loss decreased by $8 million (4%) to $190 million in Q3 2023 compared to Q3 2022[72] - Other income, net increased by $12 million (240%) to $17 million in Q3 2023 compared to Q3 2022, primarily due to higher interest income[72] - Research and development expenses increased by $38 million (7%) to $546 million in the nine months ended September 30, 2023, compared to the same period in 2022[79] - Selling, general and administrative expenses decreased by $7 million (7%) to $91 million in the nine months ended September 30, 2023, compared to the same period in 2022[79] - Net loss decreased by $825 million (58%) to $604 million in the nine months ended September 30, 2023, compared to the same period in 2022[77] - Other income, net increased by $32 million (400%) to $40 million in the nine months ended September 30, 2023, compared to the same period in 2022[77] Cash Flow and Liquidity - Cash and cash equivalents totaled $953 million, with short-term investments of $518 million as of September 30, 2023[82] - Net cash used in operating activities increased to $465 million for the nine months ended September 30, 2023, up from $367 million in the same period in 2022[84] - Net cash provided by investing activities was $332 million for the nine months ended September 30, 2023, compared to a net cash used of $766 million in the same period in 2022[85] - Total liquidity is expected to meet working capital and capital expenditure requirements for at least twelve months from the date of the Quarterly Report[82] - The company expects to continue incurring operating losses and may need to raise additional capital to support the development and commercialization of the Aurora Driver[82] Risk and Controls - The company is exposed to interest rate and inflation risks, but a 100-basis point change in interest rates is not expected to have a material effect on its business[92][93] - The company's disclosure controls and procedures were deemed effective as of September 30, 2023[94] - No material changes in internal control over financial reporting occurred during the fiscal quarter ended September 30, 2023[95]

Aurora Innovation, Inc. (NASDAQ:AUR) Q2 2023 Results Conference Call August 2, 2023 5:00 PM ET Company Participants Stacy Feit - Vice President of Investor Relations Chris Urmson - Co-Founder and CEO David Maday - CFO Conference Call Participants George Gianarikas - Canaccord Genuity Wyatt Swanson - D.A. Davidson Mark Delaney - Goldman Sachs Operator Greetings, and welcome to Aurora's Second Quarter 2023 Business Review Call [Operator Instructions]. As a reminder, this conference is being recorded. It is n ...

Table of Contents ____________________________ ____________________________ ____________________________ ____________________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commis ...

Aurora Innovation, Inc. (NASDAQ:AUR) Q1 2023 Earnings Conference Call May 3, 2023 5:00 PM ET Company Participants Stacy Feit – Vice President, Investor Relations Chris Urmson – Co-Founder and Chief Executive Officer Richard Tame – Chief Financial Officer Conference Call Participants Wyatt Swanson – D.A. Davidson David Vernon – Bernstein Operator Greetings. Welcome to the Aurora First Quarter 2023 Business Review Call. At this time, all participants are in a listen-only mode. A question-and-answer session wi ...

Table of Contents ____________________________ ____________________________ ____________________________ ____________________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commi ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR oTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission file number 001-40216 Aurora Innovation, Inc. (Exact name of registrant as specified in its charter) | --- | --- | ...

Aurora Innovation, Inc. (NASDAQ:AUR) Q4 2022 Earnings Conference Call February 15, 2023 5:00 PM ET Company Participants Stacy Feit - VP, IR Chris Urmson - Co-Founder and CEO Richard Tame - CFO Conference Call Participants Wyatt Swanson - D.A. Davidson David Vernon - Bernstein Operator Greetings and welcome to the Aurora Innovation Fourth Quarter 2022 Business Review Call. [Operator Instructions] I will now turn the conference over to our host, Stacy Feit, Vice President, Investor Relations. Thank you. You m ...