Key TakeawaysShares of Aurora Innovation surged Tuesday morning after the company announced a new partnership to develop driverless trucks.The company will work with Nvidia to develop its self-driving software, and with Continental on a plan to manufacture the equipment at scale starting in 2027.Nvidia also announced partnerships with Toyota and Uber late Monday for the companies to use Nvidia's driver assistance and self-driving software. Shares of Aurora Innovation (AUR) jumped more than 35% Tuesday morni ...

Dara Khosrowshahi is resigning from the board of autonomous vehicle technology company Aurora Innovation, citing a desire to focus on his ongoing responsibilities as CEO of Uber and reduce external board commitments, according to a Friday regulatory filing.Khosrowshahi’s resignation was effective as of Tuesday. Aurora says Khosrowshahi’s decision to leave the board was not the result of any disagreement with the company.  The Uber chief executive and Aurora Innovation go way back. In 2020, Uber offloaded i ...

Auriant Mining AB (the “Company”) has been informed by the Exchange that its shares (AUR, ISIN code SE0001337213) will be moved from the First North Premier Segment to Nasdaq First North Growth Market. The segment change will become effective at market open on Thursday, 2 January 2025. The reason for the change is that the Company’s average market capitalization is below the 10 MEUR threshold, required for listing at the First North Premier Segment. The Company confirms its plan to apply for delisting of t ...

Company Overview - Aurora Innovation Inc is a $14 billion tech company headquartered in Pittsburgh, focusing on next-generation self-driving technology, particularly autonomous trucks for commercial use [2] - The company is pre-revenue, with investors focusing on its long-term potential rather than backward-looking metrics [3] - Aurora's shares have gained nearly 300% since June 2023, with a 14% jump in a recent Monday session making it one of the day's top performers [1] Recent Performance and Growth Prospects - Aurora is on the brink of a new era in mobility and logistics, with a new key customer and nearly $500 million added to its balance sheet [4] - The company has logged over two million supervised miles and plans to deploy tens of driverless trucks by late 2025 [6] - Aurora's gross margins could exceed 50% by 2031, with minimal annual capex, supported by an exclusive partnership with Continental for scaling production starting in 2027 [7] Market and Analyst Sentiment - Cantor Fitzgerald initiated coverage with an Overweight rating and a $10 price target, projecting a 25% upside from Monday's close [5] - Aurora's Relative Strength Index (RSI) is at 64, indicating bullish momentum without being overbought [10] - Despite the bullish outlook, many analysts maintain a cautious approach, with a general consensus of Hold and Sell ratings, awaiting more evidence of Aurora's potential [9] Industry Context - Aurora is operating in a $1 trillion U.S. trucking market and a $4 trillion global market, with favorable U.S. regulations, particularly in key states like Texas [7] - The broader risk-on sentiment and a dovish Fed are creating a favorable environment for growth stocks like Aurora [11]

Aurora Business Update | Third Quarter 2024 世 October 30, 2024 Cautionary statement regarding forward-looking statements This presentation contains certain forward-looking statements within the meaning of the federal securities laws. All statements contained in this presentation that do not relate to matters of historical fact should be considered forward-looking statements, including but not limited to, those statements around our ability to achieve certain milestones around, and realize the potential bene ...

Aurora Innovation, Inc. (NASDAQ:AUR) Q3 2024 Earnings Call October 30, 2024 5:00 PM ET Company Participants Stacy Feit - Vice President, Investor Relations Chris Urmson - Co-Founder and Chief Executive Officer David Maday - Chief Financial Officer Conference Call Participants George Gianarikas - Canaccord Genuity David Vernon - Bernstein Mark Delaney - Goldman Sachs Jeff Osborne - TD Cowen Operator Greetings and welcome to the Aurora Third Quarter 2024 Business Review Call. [Operator Instructions] As a remi ...

Financial Performance - Aurora Innovation reported a net loss of $208 million for the three months ended September 30, 2024, compared to a net loss of $190 million for the same period in 2023, representing an 18% increase in losses[61] - Total operating expenses decreased by 8% to $196 million in Q3 2024 from $212 million in Q3 2023, driven by reductions in research and development and selling, general, and administrative expenses[61] - Net cash used in operating activities was $469 million for the nine months ended September 30, 2024, a slight increase from $465 million in the same period in 2023[72] - Other income, net increased by 18% to $47 million for the nine months ended September 30, 2024, primarily due to higher interest income from cash equivalents and investments[68] - The change in fair value of derivative liabilities resulted in an expense of $15 million for the nine months ended September 30, 2024, compared to an expense of $7 million in the same period in 2023, indicating increased volatility in market prices[68] Expenses and Cost Management - Research and development expenses decreased by 7% to $169 million in Q3 2024, primarily due to lower non-cash stock-based compensation and hardware costs[63] - Inflation has not had a material effect on the business, but rising costs could harm financial condition if not offset by price increases[79] Capital and Investments - As of September 30, 2024, Aurora had $263 million in cash and cash equivalents, $985 million in short-term investments, and $104 million in long-term investments[70] - The company raised $466 million in net proceeds from a public offering of approximately 134 million shares at $3.60 per share on August 2, 2024[59] Business Strategy and Future Plans - Aurora plans to launch the Aurora Driver for Freight, targeting the driverless trucking subscription service market first, before expanding into passenger mobility and local goods delivery[57] - The company expects to earn revenue on a fee per mile basis through a Driver as a Service (DaaS) business model, partnering with OEMs and fleet operators[55] Risk Management and Controls - Management assessed that there have been no material changes to critical accounting estimates since the Annual Report[76] - Interest rate changes of 100-basis points are not expected to materially affect the business or financial condition[78] - Disclosure controls and procedures were deemed effective as of September 30, 2024[81] - No changes in internal control over financial reporting materially affected the company during the fiscal quarter ended September 30, 2024[82] - The company does not consider any pending legal claims to be material to its business or likely to adversely affect future operating results[85] - No material losses were recorded in the three and nine months ended September 30, 2024 and 2023[75]

Aurora Third Quarter 2024 Shareholder Letter October 30, 2024 | --- | --- | --- | |-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Sometimes in investing, an uncomplicated thesis generates huge rewards. For example, someone who bought Google's shares soon after its IPO, based on the relatively uncomplicated idea that the company was well-positioned to eventually obtain very large amounts of revenue by selling internetAnalyst’s Disclosure: I/we have a beneficial long position in the shares of AUR, AMZN either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not r ...

Capital Raising and Financial Position - Aurora Innovation is seeking to raise hundreds of millions in additional capital to support its driverless commercial launch by the end of 2024 [1] - The company has arranged to sell up to $420 million worth of Class A common stock to underwriters Goldman Sachs, Allen & Company, and Morgan Stanley at $3.4830 per share, with a public offering price of $3.60 per share [2] - Aurora's stock price increased by almost 29% to $4.50 following the filing [2] - As of June 30, 2024, Aurora had $402 million in cash and cash equivalents and $618 million in short-term investments, which is expected to fund operations into Q4 2025 [3] - In Q2 2024, Aurora spent $198 million, resulting in a direct loss as the company is not yet generating revenue [3] Business Model and Market Strategy - Aurora is pursuing a driver-as-a-service model, where carriers purchase trucks equipped with Aurora Driver technology and offer services to shippers [1] - The company plans to enter the market as a carrier, offering up to 20 autonomous Paccar and Volvo trucks to shippers by the end of this year [1] - Aurora is set to start its commercial service on the Uber Freight network later this year, following a multi-year collaboration announced in June that will extend through 2030 [4] Use of Proceeds and Future Plans - Aurora intends to use the net proceeds from the stock offering for "working capital and other general corporate purposes" and will initially invest in short and long-term investment-grade instruments, certificates of deposit, or guaranteed obligations [3] - The company may need to significantly reduce its cash burn to extend its $402 million cash reserves over the next six quarters unless it garners significant returns from its short-term investments [4]