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Mar 31, 2025
Aurora Q1 2025 Earnings Report
Aurora reported Q1 2025 results, marking a historic milestone with the launch of driverless commercial operations.
Key Takeaways
Aurora began commercial driverless trucking operations in Q1 2025, completed over 4,000 driverless miles, and maintained strong fiscal discipline while preparing for expansion.
Launched regular driverless freight operations between Dallas and Houston on April 27, 2025.
Achieved 100% Autonomy Readiness Measure (ARM) and 95% 100% API performance on production loads.
Ended Q1 with nearly $1.2 billion in cash and short-term investments.
Q1 net loss totaled $208 million, with adjusted EBITDA at -$171 million.
Forward Guidance
Aurora aims to expand driverless lanes and operational capabilities throughout 2025 while continuing cost control.
Positive Outlook
- Expansion of driverless lanes from Fort Worth to Phoenix planned in H2 2025.
- Validation of night and adverse weather driving targeted for H2 2025.
- Progress on second and third generation commercial hardware kits.
- Continued fiscal prudence with operating expenses below external guidance.
- Strong capital position with cash runway extending into Q4 2026.
Challenges Ahead
- Operating cash usage expected to rise to $175–$185 million quarterly for rest of 2025.
- Hardware development and capital expenditures expected to increase.
- No reported revenue yet despite commercial operations beginning.
- Net loss and negative adjusted EBITDA highlight ongoing unprofitability.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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