Logo

AUR

Aurora Innovation, Inc.

AUR

Aurora Innovation, Inc. • NASDAQ
$4.19 ▲ 3.46% (+0.14)
Market Cap $8.11 B
52w High $10.77
52w Low $3.60
Dividend Yield 0%
P/E -9.31
Volume 8.87M
Outstanding Shares 1.94B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1M $204M ▲ $-201M -20.1K% $-0.11 $-188M ▲
Q2-2025 $1M ▲ $36M ▲ $-201M ▲ -20.1K% ▼ $-0.11 ▲ $-225M ▼
Q1-2025 $0 $29M ▲ $-208M ▼ 0% $-0.12 $-205M ▼
Q4-2024 $0 $28M ▲ $-193M ▲ 0% $-0.12 ▲ $-193M ▼
Q3-2024 $0 $27M $-208M 0% $-0.13 $-192M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.247B ▼ $2.51B ▲ $219M ▼ $2.291B ▲
Q2-2025 $1.309B ▲ $2.214B ▲ $223M ▼ $1.991B ▲
Q1-2025 $1.159B ▼ $2.071B ▼ $286M ▲ $1.785B ▼
Q4-2024 $1.223B ▼ $2.138B ▼ $263M ▲ $1.875B ▼
Q3-2024 $1.248B $2.265B $247M $2.018B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-201M $-149M ▼ $-419M ▼ $448M ▲ $-120M ▼ $-157M ▼
Q2-2025 $-201M ▲ $-144M ▼ $-118M ▼ $298M ▲ $36M ▲ $-151M ▼
Q1-2025 $-208M ▼ $-142M $19M ▼ $82M ▲ $-41M ▲ $-150M
Q4-2024 $-193M ▲ $-142M ▲ $73M ▲ $17M ▼ $-52M ▲ $-150M
Q3-2024 $-208M $-143M $-466M $469M $-140M $-150M

Five-Year Company Overview

Income Statement

Income Statement Aurora is still essentially pre-revenue, so its income statement is dominated by research and development spending rather than sales. Losses have been large and fairly consistent over the past several years, reflecting the cost of building a complex autonomous driving platform before full commercial rollout. There are no signs yet of scale-driven profitability, since commercialization is only just beginning. Investors should think of this as a long-lead, high-investment story rather than a traditional, revenue-producing tech services firm today.

Balance Sheet

Balance Sheet The company holds a meaningful cash cushion and a sizable base of equity relative to its modest debt, which provides some financial flexibility in the near term. That said, total assets and equity have trended down from earlier post-SPAC levels, showing that the company is gradually drawing down its financial resources to fund development. Debt remains small compared with equity, so financial leverage is not the primary risk; the key question is how long current resources can support operations before additional funding is needed.

Cash Flow

Cash Flow Aurora consistently burns cash from operations, reflecting high payroll, engineering, and testing costs with very little revenue to offset them. Capital spending on equipment and infrastructure is present but modest compared with the operating cash burn, so most outflows are tied to people and technology development rather than heavy physical assets. Free cash flow has been steadily negative, which means the business remains dependent on its existing cash reserves and future access to capital markets to sustain its roadmap.

Competitive Edge

Competitive Edge Aurora is positioning itself as a specialist in autonomous long-haul trucking rather than trying to tackle every use case at once. Its edge comes from a combination of proprietary perception technology, deep integrations with major truck manufacturers, and freight partnerships that give it real-world operating lanes. This focused strategy may help it build depth and reliability in a narrower segment, but it operates in a crowded, well-funded field of autonomous vehicle players and must prove it can scale safely and economically ahead of rivals. Its asset-light “driver-as-a-service” approach could be attractive to fleets if Aurora can demonstrate consistent performance and uptime.

Innovation and R&D

Innovation and R&D The company is highly research-driven, with its Aurora Driver platform, proprietary FirstLight LiDAR, and cloud-based Beacon system all pointing to a deep internal technology stack. It is investing not just in software, but also in next-generation hardware with partners to reduce costs and enable mass deployment, including plans for more compact, cheaper lidar solutions. The roadmap includes longer-range sensors, multiple generations of hardware, and broader route coverage, indicating a long pipeline of innovations still to come. The main execution risks are technical complexity, safety validation, and the challenge of turning advanced prototypes into reliable, scalable commercial products.

Summary

Aurora is an early-stage, high-investment autonomous trucking company that remains pre-revenue and deeply loss-making while it builds out its technology and commercial offering. Its balance sheet still provides some breathing room, with modest debt and meaningful cash, but ongoing cash burn is substantial and will likely require continued external funding if commercialization does not ramp quickly. On the strategic side, Aurora benefits from strong partners, differentiated sensing technology, and a clear focus on long-haul trucking, all of which support a credible path to market leadership if execution goes well. The key uncertainties revolve around timing: how quickly the technology can scale safely, how fast customers adopt autonomous freight services, and whether the company can manage its financial runway through that transition.

NEWS

October 28, 2025 · 4:15 PM UTC

Aurora Expands Driverless Trucking Service from Fort Worth to El Paso

Read more

October 7, 2025 · 9:00 AM UTC

Aurora to Host Third Quarter 2025 Business Review Conference Call on October 28, 2025

Read more