NASDAQ$AUR
Aurora Innovation Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Aurora demonstrated fiscal discipline and made progress towards the Aurora Driver Ready milestone.
Aurora focused on execution and capital discipline in Q3 2023. They progressed the Aurora Driver Safety Case, enhanced autonomy performance, scaled trucking operations, and advanced partnerships while managing cash spend below the quarterly average target. The company raised $853 million in gross proceeds and ended the quarter with $1.5 billion in cash and short-term investments.
- Achieved an Autonomy Readiness Measure (ARM) of 84% as of September 30, 2023.
- Completed build-out of second commercial-ready terminal in Houston.
- Achieved end of third quarter target to autonomously haul 75 loads per week for customers.
- The Autonomy Performance Indicator (API) was 98%.
Headline financials
Revenue & EPS history
Aurora · Revenue · Quarterly
$0
Forward guidance
Aurora anticipates completing the work to validate a small number of their Aurora Driver software safety case claims around the end of Q1 2024 and is focused on achieving Commercial Launch, on schedule, at the end of 2024.
Tailwinds
- The work on the segment of claims does not impact the expected timing for Commercial Launch.
- Validation work is accelerating.
- The quality of the Aurora Driver is improving every day.
- Reallocating parts of the engineering team to begin work beyond the Aurora Driver Ready milestone.
- Volvo Autonomous Solutions reiterated their excitement for their autonomous trucking product.
Headwinds
- Completing the work to validate a small number of Aurora Driver software safety case claims will stretch beyond the end of the year goal.
- The work is being performed by a limited subset of the team.
- Cyclically challenged commercial freight market.
- Certain situations (e.g., flat tires) will always require on-site support.
- The company did not record any revenue during the third quarter of 2023.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
-0.7%
Avg return
Earnings day
+2.5%
Avg return
5 days after
-7.1%
Avg return
30 days after
18%
4 / 22 earnings
Positive
+46.0%
Q4 2024
Best reaction
-24.7%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.3% | -0.8% | -13.5% | |
| Q4 2025 | -3.2% | +3.9% | -6.4% | |
| Q3 2025 | -1.5% | -2.9% | -19.4% | |
| Q2 2025 | +0.0% | +6.4% | -2.8% | |
| Q1 2025 | -5.9% | -11.5% | -24.3% | |
| Q4 2024 | +46.0% | +46.8% | +8.1% | |
| Q3 2024 | -24.7% | -19.7% | -6.4% | |
| Q1 2024 | +6.5% | -10.9% | -32.7% | |
| Q4 2023 | +0.7% | -4.9% | -27.0% | |
| Q3 2023 | +9.7% | +12.0% | +38.3% | |
| Q2 2023 | -7.8% | -8.4% | -4.2% | |
| Q1 2023 | +0.0% | +7.4% | +6.7% | |
| Q4 2022 | -2.3% | +2.9% | -28.0% | |
| Q3 2022 | -3.8% | -11.5% | -30.8% | |
| Q4 2019 | -2.2% | -7.3% | -13.0% | |
| Q2 2022 | -3.3% | -5.1% | -11.0% | |
| Q1 2022 | -0.2% | -8.4% | -25.9% | |
| Q2 2021 | -13.4% | +2.8% | +6.0% | |
| Q4 2021 | -5.6% | -5.4% | -3.2% | |
| Q3 2021 | -1.6% | +71.1% | +32.2% | |
| Q1 2021 | -0.8% | -0.6% | +1.1% | |
| Q4 2020 | -0.8% | -0.6% | +1.1% |
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