NASDAQ$AUR
Aurora Innovation Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Aurora experienced a pivotal year in 2023, advancing towards commercial launch and scaling operations, while maintaining financial discipline.
Aurora made significant strides in Q4 2023, highlighted by the progression of vehicle partnerships, technology readiness, and customer engagement, all while maintaining strong fiscal discipline. The company focused on advancing the Aurora Driver's capabilities and preparing for commercial launch by the end of 2024.
- Completed bring-up of first hardware-complete Volvo trucks capable of fully autonomous operation and began track testing.
- Achieved an Autonomy Readiness Measure (ARM) of 93% as of mid-January, progressing towards closing the Safety Case for the launch lane.
- The Autonomy Performance Indicator (API) was 99% for the fourth quarter of 2023.
- Deepened customer relationships and consistently scheduled over 100 loads per week, logging approximately 25,000 commercial miles weekly.
Headline financials
Revenue & EPS history
Aurora · Revenue · Quarterly
$0
Forward guidance
Aurora anticipates continued progress toward commercial launch in 2024, with expectations of increased capital expenditures and consistent quarterly cash use.
Tailwinds
- Contractual commitment on volume and pricing for a portion of 2024 and 2025 capacity.
- Advancing the Aurora Driver’s autonomy performance.
- Deepening and expanding customer base.
- Progressing the co-development of autonomy-enabled truck platforms with OEM partners.
- Finalization of the design and architecture of the future Aurora Driver hardware generation.
Headwinds
- Expected quarterly cash use of $175 - $185 million, on average, reflecting an increase in capital expenditures relative to 2023.
- The company did not record any revenue during the fourth quarter of 2023.
- Net loss of $192 million.
- Operating expenses totaled $198 million.
- Still needs to close the final 7% of Safety Case.
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 Q4 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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