Aurora Innovation (NASDAQ:AUR) Releases Quarterly Earnings Results
by Doug Wharley · The Cerbat GemAurora Innovation (NASDAQ:AUR – Get Free Report) announced its earnings results on Wednesday. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.01, FiscalAI reports. The company had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $0.97 million. The company’s quarterly revenue was down 66.7% on a year-over-year basis.
Here are the key takeaways from Aurora Innovation’s conference call:
- Aurora plans a Q2 launch of its second-generation commercial hardware kit and expects to exit 2026 with >200 driverless trucks in operation, positioning the company to scale into its 2027 Driver-as-a-Service offering.
- Hirschbach has signed an MOU to scale to 500 trucks under Aurora’s Driver-as-a-Service model, a deal Aurora says could convert to a definitive agreement this year and represent hundreds of millions in multi-year revenue starting deliveries in 2027.
- Financials show a small Q1 revenue base of $1 million with a large operating loss of $244 million, Q1 cash use of $159 million and guidance for average quarterly cash burn of ~$190–220 million despite ending the quarter with ~$1.3 billion in liquidity.
- The new hardware kit is expected to cut Aurora Driver hardware costs by 50%+, includes a proprietary FirstLight FMCW lidar with a 1 km range (about double competitors) and is designed for 1 million miles of operation, all intended to improve reliability and unit economics.
- Operational metrics highlight progress: the Aurora Driver surpassed 370,000 driverless miles with 100% on-time performance and zero Aurora-attributed collisions, plus high utilization (Werner trucks averaging 4,000+ miles/week) that management says can drive higher revenue per truck.
Aurora Innovation Stock Up 11.3%
Shares of NASDAQ AUR traded up $0.74 on Wednesday, hitting $7.27. The company had a trading volume of 41,746,595 shares, compared to its average volume of 19,501,996. Aurora Innovation has a 12-month low of $3.60 and a 12-month high of $8.19. The business has a 50 day moving average of $4.63 and a two-hundred day moving average of $4.49. The firm has a market capitalization of $14.17 billion, a P/E ratio of -16.16 and a beta of 2.58.
Analyst Ratings Changes
A number of research firms recently weighed in on AUR. TD Cowen decreased their price target on Aurora Innovation from $5.50 to $4.70 and set a “hold” rating on the stock in a research note on Friday, February 13th. Wall Street Zen downgraded Aurora Innovation from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. Needham & Company LLC restated a “buy” rating and issued a $13.00 price target on shares of Aurora Innovation in a research note on Thursday, February 12th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Aurora Innovation in a report on Monday, February 9th. Finally, The Goldman Sachs Group lifted their price objective on Aurora Innovation from $4.00 to $5.00 and gave the stock a “neutral” rating in a report on Friday, April 17th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $10.54.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the business. Danske Bank A S acquired a new position in shares of Aurora Innovation in the third quarter worth about $36,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of Aurora Innovation in the fourth quarter worth about $35,000. Kestra Private Wealth Services LLC acquired a new position in shares of Aurora Innovation in the third quarter worth about $55,000. Equitable Holdings Inc. acquired a new position in shares of Aurora Innovation in the fourth quarter worth about $41,000. Finally, CreativeOne Wealth LLC acquired a new position in shares of Aurora Innovation in the third quarter worth about $61,000. Institutional investors and hedge funds own 44.71% of the company’s stock.
About Aurora Innovation
Aurora Innovation, Inc is a technology company specializing in the development of self-driving vehicle systems for both passenger and commercial applications. Headquartered in Mountain View, California, Aurora has built an end-to-end platform—known as the Aurora Driver—that integrates proprietary software, machine learning algorithms and a suite of sensors (LiDAR, radar and cameras) to enable vehicles to operate safely and efficiently in diverse driving environments.
The company’s core business revolves around designing, testing and deploying its autonomy stack on vehicles from established automotive and transportation partners.