```markdown [Letter to Shareholders](index=2&type=section&id=Letter%20to%20Shareholders) [Introduction and Q1 2024 Highlights](index=2&type=section&id=Introduction%20and%20Q1%202024%20Highlights) Aurora reports a strong Q1 2024, progressing towards its planned Commercial Launch by year-end with key autonomy and financial advancements - The company is on track for its planned **Commercial Launch at the end of 2024**[3](index=3&type=chunk) - Key progress in Q1 includes improving the Aurora Driver's performance, advancing the launch lane Safety Case, and maintaining **financial discipline**[3](index=3&type=chunk) - Hosted an Analyst & Investor Day in March, showcasing technology maturity, partnerships, and a business model designed for rapid, capital-efficient growth and **high gross margins**[4](index=4&type=chunk) [Technology and Safety Progress](index=4&type=section&id=Technology%20and%20Safety%20Progress) Aurora advances its Driver technology with a strong safety focus, achieving high ARM and API scores, nearing commercial launch targets - The Autonomy Readiness Measure (ARM), a weighted measure of completeness for the launch lane Safety Case, reached **95% as of mid-April 2024**[12](index=12&type=chunk) - In Q1, **75% of commercial loads** on the Dallas to Houston launch lane achieved a **100% Autonomy Performance Indicator (API)**, meaning they required no on-site support. This is a **13-point sequential improvement**[16](index=16&type=chunk) - The company is targeting approximately **90% of loads to have a 100% API at Commercial Launch**[16](index=16&type=chunk) [Commercialization and Operational Readiness](index=6&type=section&id=Commercialization%20and%20Operational%20Readiness) Aurora secured multi-year customer commitments, significantly increased commercial load volume, and achieved high on-time performance over 1.5 million miles - Secured **multi-year contractual commitments** on volume and pricing from multiple customers, with mechanisms to transition to driverless operations[19](index=19&type=chunk) - Currently scheduling about **120 commercial loads per week**, a **threefold increase** in volume compared to the previous year[20](index=20&type=chunk) Cumulative Operational Metrics (as of 4/30/24) | Metric | Value | | :--- | :--- | | Loads Delivered | 5,450 | | Commercial Miles Driven | ~1.5 million | | On-Time Performance | Nearly 100% | [Regulatory Landscape](index=8&type=section&id=Regulatory%20Landscape) The regulatory environment in Texas is favorable for autonomous vehicle launch, requiring no additional steps, with Aurora actively engaging communities - Autonomous vehicle deployment is permitted under existing law in the vast majority of U.S. states, including the **Texas launch market**[27](index=27&type=chunk) - No additional regulatory steps are required to launch in Texas once the company's **Safety Case is closed**[27](index=27&type=chunk) - The company is conducting community engagement events along the I-45 corridor in Texas to build **public trust and awareness**[28](index=28&type=chunk) [Positioning for Scale](index=9&type=section&id=Positioning%20for%20Scale) Aurora is positioned for large-scale commercialization through strategic OEM partnerships and exclusive hardware development agreements with Continental and Fabrinet - Established partnerships with OEMs **Volvo Trucks and PACCAR** to design and manufacture autonomy-enabled trucks with redundant components necessary for safe driverless operations[30](index=30&type=chunk) - Long-term, exclusive partnership with **Continental** to jointly develop, manufacture, and service future generations of Aurora Driver hardware, with scalable production planned for **2027**[30](index=30&type=chunk)[34](index=34&type=chunk) - Engaged **Fabrinet** to manufacture the next-generation Aurora Driver hardware kit, planned for introduction in **2025**, which is expected to cause a **step-function reduction in hardware costs**[34](index=34&type=chunk) [CFO's Financial Commentary](index=12&type=section&id=CFO%27s%20Financial%20Commentary) Aurora demonstrated strong fiscal discipline in Q1 2024 with controlled operating expenses and cash use, ending with $1.2 billion in cash, extending its runway into Q4 2025 Q1 2024 Financial Summary | Metric | Value (in millions) | | :--- | :--- | | Operating Expenses (incl. SBC) | $193 | | Operating Expenses (excl. SBC) | $157 | | Operating Cash Use | ~$150 | | Capital Expenditures | $8 | - Ended Q1 2024 with **$1.2 billion in cash & short-term and long-term investments**[40](index=40&type=chunk) - Current liquidity is expected to fund operations into the **fourth quarter of 2025**, an extension due to identified cost savings[40](index=40&type=chunk) [Financial Statements](index=14&type=section&id=Financial%20Statements) [Condensed Consolidated Balance Sheets](index=14&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2024, Aurora reported total assets of $2.089 billion, a decrease from year-end 2023, with liabilities at $231 million and equity at $1.858 billion Condensed Consolidated Balance Sheet Data (in millions) | Account | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Total Assets** | **$2,089** | **$2,235** | | Cash and cash equivalents | $454 | $501 | | Short-term investments | $662 | $699 | | Total current assets | $1,142 | $1,217 | | **Total Liabilities** | **$231** | **$250** | | Total current liabilities | $110 | $111 | | **Total Stockholders' Equity** | **$1,858** | **$1,985** | [Condensed Consolidated Statements of Operations](index=15&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For Q1 2024, Aurora reported a net loss of $165 million ($0.11 per share), an improvement from Q1 2023, driven by lower operating expenses Statement of Operations Highlights (in millions, except per share data) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Total operating expenses | $193 | $208 | | Loss from operations | ($193) | ($208) | | **Net loss** | **($165)** | **($196)** | | **Basic and diluted net loss per share** | **($0.11)** | **($0.17)** | [Condensed Consolidated Statements of Cash Flows](index=16&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) In Q1 2024, net cash used in operating activities was $150 million, with $101 million provided by investing activities, ending with $471 million in cash Cash Flow Summary (in millions) | Cash Flow Activity | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net cash used in operating activities | ($150) | ($136) | | Net cash provided by investing activities | $101 | $54 | | Net cash provided by financing activities | $2 | $0 | | **Net decrease in cash** | **($47)** | **($82)** | | **Cash at end of period** | **$471** | **$195** | [Non-GAAP Financial Information](index=17&type=section&id=Non-GAAP%20Financial%20Information) Aurora's Q1 2024 Non-GAAP Adjusted EBITDA loss was $152 million, an improvement from Q1 2023, primarily excluding stock-based compensation Reconciliation of Net Loss to Adjusted EBITDA (in millions) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net loss | ($165) | ($196) | | Stock-based compensation | $36 | $39 | | Change in fair value of derivative liabilities | ($12) | $2 | | **Adjusted EBITDA** | **($152)** | **($164)** | - Adjusted EBITDA is defined as net loss adjusted to exclude impacts of income taxes, depreciation and amortization, stock-based compensation, changes in fair value of derivative liabilities, goodwill impairment, and other non-operating income and expenses[54](index=54&type=chunk) [Other Information](index=13&type=section&id=Other%20Information) [Cautionary Statement Regarding Forward-Looking Statements](index=13&type=section&id=Cautionary%20Statement%20Regarding%20Forward-Looking%20Statements) This document contains forward-looking statements regarding milestones, commercialization, and financial projections, subject to risks detailed in SEC filings - The document contains forward-looking statements concerning the company's ability to achieve milestones, commercialize the Aurora Driver, and realize benefits from partnerships[43](index=43&type=chunk) - These statements are not guarantees and involve known and unknown risks. Readers are advised to consult the **"Risk Factors" section** of the company's Form 10-K and other SEC filings[43](index=43&type=chunk) ```

Group 1: Growth Stocks Overview - Growth stocks are experiencing a resurgence, with the iShares Russell 2000 up nearly 5% year-to-date, driven by expectations of lower interest rates from the Federal Reserve [1] - The Federal Reserve's projection indicates a potential cut of 0.75 percentage points in the benchmark rate this year, which is likely to positively impact growth stocks [1] Group 2: Celsius Holdings (CELH) - Celsius Holdings has seen its stock price rise from $50 to around $90 since the end of January, indicating strong market interest [2] - The company's sales growth for the four-week period ending March 9 was 67% year-over-year, suggesting rapid popularity of its healthy carbonated drinks [2] - Q1 revenue is expected to exceed analysts' average estimates, further supporting the company's growth narrative [2] Group 3: Aurora Innovation (AUR) - Aurora's stock increased from $2.17 to $2.44 between March 11 and March 20, reflecting investor optimism [3] - The company plans to commercially launch its self-driving technology, Aurora Driver, later this year and aims for positive gross margins by the end of 2026 [3][4] - Aurora's technology is expected to enhance safety and operational hours for trucks, addressing the driver shortage issue in the industry [3][4] Group 4: Xpeng (XPEV) - Xpeng's stock surged from $7.87 to over $9.40 from February 5 to March 21, driven by impressive fourth-quarter results with a 154% increase in revenue year-over-year [5] - The company plans to launch 10 new models over the next three years and expand sales to additional countries [5] - Xpeng is set to introduce affordable EVs priced between $14,000 and $21,000, featuring advanced driver assistance systems, which could significantly boost demand [5][6]

Penny stocks provide risk and profit but frequently lie in the shadows in the fast-paced world of investing. Nevertheless, three-penny stocks stand like diamonds in the dust among the chaos and uncertainties. These companies have the potential to reach previously unheard-of heights and anticipate a 500% increase in revenue by 2026.These stocks are more than simply wild speculations. They are well-thought-out examples of successful market penetration tactics, solid financial relationships and strategic allia ...

Core Insights - Aurora Innovation is showcasing its progress towards driverless deployment and self-funding at its Analyst and Investor Day, highlighting the unveiling of the Aurora Driver, an SAE Level 4 autonomous driving system [1] - The company claims to be nearing a historic milestone in the safe and scalable deployment of driverless trucks, with a focus on commercial launch and sustainable business operations [1] Progress toward Driverless Operations and Commercial Launch - Aurora's Safety Case is 93% complete for its launch lane between Dallas and Houston, demonstrating the safety of its self-driving vehicles [2] - The Aurora Driver-powered truck will navigate advanced scenarios on a closed track, including autonomous operations, advanced capabilities, and defensive driving maneuvers [2] Final Development of Purpose-Designed Redundant Trucks - Aurora has been testing the autonomous Volvo VNL since late 2023, which is designed with robust redundant systems for safety [3] - The company emphasizes collaboration with OEM and manufacturing partners as essential for the safe deployment and scaling of autonomous trucks [3] Path to Self-Funding - Aurora's presentation outlines a roadmap to scale, focusing on capital-efficient revenue growth, high gross margins, and positive free cash flow [4] - Key revenue drivers and cost-reduction strategies are highlighted as critical components of the company's financial strategy [4] About Aurora - Aurora is committed to delivering self-driving technology that enhances transportation safety, accessibility, and efficiency [5] - The Aurora Driver is designed for various vehicle types, supporting both freight-hauling and ride-hailing services, and the company collaborates with industry leaders across the transportation ecosystem [5]

As the broader indices like the Nasdaq and the S&P 500 continue to move higher, this has led to this list of high-risk, high-reward stocks that investors should pay attention to. When the backdrop is bullish as it is today, investors could make some solid returns via investing in companies such as these, as a rising tide lifts all boats.It should be noted that these companies are especially risky. Most have speculative trajectories and could be considered contrarian plays that need to be examined closely be ...

PITTSBURGH--(BUSINESS WIRE)--Aurora Innovation, Inc. (NASDAQ: AUR) will host an Analyst & Investor Day on Thursday, March 14, 2024 at its headquarters in Pittsburgh. The company will share details on its strategy to commercialize the Aurora Driver and scale autonomy across the trucking industry. Keynote presentations by Aurora executives are scheduled to begin at 8:45 a.m. EDT and are expected to conclude by 10:45 a.m EDT. Due to limited capacity, in-person attendance is by invitation only. The presentatio ...

©2024 | Aurora F O U R T H Q U A R T E R 2 0 2 3 B U S I N E S S U P D A T E Proprietary F E B R U A R Y 1 4 , 2 0 2 4 ©2024 | Aurora Cautionary ...

Aurora Innovation, Inc. (NASDAQ:AUR) Q4 2023 Earnings Conference Call February 14, 2024 5:00 PM ET Company Participants Stacy Feit - Vice President, Investor Relations Chris Urmson - Co-Founder and CEO David Maday - Chief Financial Officer Conference Call Participants George Gianarikas - Canaccord Genuity Justine Laufer - Bernstein Mark Delaney - Goldman Sachs Andres Sheppard - Cantor Fitzgerald Operator Greetings. And welcome to the Aurora Innovation Fourth Quarter 2023 Business Review Call. At this time, ...

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 ...