Core Insights - Aurora Innovation highlighted 2025 as a defining year, marking the launch of its first driverless commercial trucking operations on U.S. public roads and significant advancements in its operational domain and commercialization plans [4] Operational Developments - The company initiated supervised autonomous operations on bidirectional lanes between Dallas and Laredo, aiming for driverless validation within the current quarter [1] - Aurora's latest software release expanded driverless operations to handle inclement weather, addressing a limitation that affected operations in Texas about 40% of the time during 2025 [2] - The Aurora Driver surpassed 250,000 driverless miles in January, nearly tripling cumulative miles since early October, maintaining 100% on-time performance and a perfect safety record with zero collisions attributed to the Aurora Driver [3][7] Financial Performance - Aurora reported fourth-quarter 2025 revenue of $1 million, a 25% sequential increase from the third quarter, with total revenue for fiscal 2025 reaching $3 million [18] - The company ended 2025 with nearly $1.5 billion in liquidity and expects average quarterly cash use of $190–220 million in 2026, targeting break-even gross margin by year-end and positive free cash flow by 2028 [5][20][22] Future Projections - For 2026, Aurora guided revenue of $14–16 million, with expectations of more than 200 driverless trucks in operation by year-end, translating to an $80 million run-rate into 2027 [6][21] - The company plans to deploy a new fleet with second-generation "Harbor" hardware, enabling operations without partner-requested observers, and aims to transition to a driver-as-a-service model starting in 2027 [11][13] Partnerships and Technology - Aurora emphasized its vehicle-agnostic approach and multi-OEM strategy, with partnerships including Volvo and PACCAR, and noted progress in integrating its second-generation commercial hardware kit into Volvo trucks [15][16] - The company is advancing a third-generation commercial hardware kit with AUMOVIO, targeting the supply of tens of thousands of trucks [17]