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Mar 31, 2022
Aurora Q1 2022 Earnings Report
Aurora had a strong start to 2022, achieving critical milestones, advancing technology, and extending its partner ecosystem.
Key Takeaways
Aurora Innovation reported $42 million in collaboration revenue for Q1 2022, stemming from development work with Toyota. The company's focus remains on the commercialization of its autonomous trucking product, Aurora Horizon, with significant progress in technology and partnerships.
Achieved critical milestones in autonomous driving technology.
Advanced the Aurora Driver's capabilities in complex driving scenarios.
Expanded operational infrastructure and partnerships for Aurora Horizon.
Demonstrated the Aurora Driver's ability to power both trucking and ride-hailing products.
Aurora
Aurora
Forward Guidance
Aurora is focused on executing its plan and delivering the benefits of self-driving technology safely, quickly, and broadly. The company continues to work toward the launch of Aurora Horizon in late 2023.
Positive Outlook
- Advancements in technology, partnerships, product suite, and safety case.
- Focus on the trucking market as the best entry point for self-driving technology.
- Continued progress towards commercial deployment at scale.
- Strong customer demand and unit economics in the trucking market.
- Commitment to building an innovative and scalable product.
Challenges Ahead
- Uncertainty in the world.
- Volatility in the financial markets.
- Risks associated with achieving milestones and commercializing the Aurora Driver on the expected timeframe.
- Assumptions and limitations in statistical data, estimates, and forecasts.
- Reliance on third-party data without independent verification.