Aurora Innovation(US:AUR)2025-05-08 21:09Business Overview - Aurora closed the Dallas to Houston Safety Case, achieving 100% Autonomy Readiness Measure (ARM)[8] - Prior to launch, Aurora exceeded its 100% Autonomy Performance Indicator (API) loads Commercial Launch target[9] - Aurora began driverless commercial deliveries for Uber Freight and Hirschbach between Dallas and Houston[12, 15] Technology and Expansion - Aurora is expanding its product capabilities to include validated night driving and operation in adverse weather conditions[22] - Aurora is beginning its lane expansion strategy with driverless operations on the Fort Worth to El Paso lane, with further extension to Phoenix[22] - The lane between Fort Worth and Phoenix spans over 1,000 miles[23, 26] Performance Metrics - Aurora's Autonomy Performance Indicator (API) has increased from 61% in 1Q23 to 95% in 1Q25[10] - Cumulatively, Aurora has autonomously delivered over 11,000 commercial loads[28] - Aurora has autonomously driven over 3 million miles[29] - Aurora achieved nearly 100% on-time delivery rate (Aurora-controlled rate)[30] Financial Status - As of March 31, 2025, Aurora has $1,159 million in cash and cash equivalents, and short-term investments[33] - For the quarter ended March 31, 2025, Research and development expenses were $182 million, and Selling, general and administrative expenses were $29 million[33] - Total operating expenses for the quarter ended March 31, 2025, were $211 million[33] - Net cash used in operating activities for the quarter ended March 31, 2025, was $142 million, and capital expenditures were $8 million[33]