Aurora Innovation, Inc. · NASDAQ:AUR
Aurora Innovation — Q2 2023 Earnings Presentation
17 slides from Aurora Innovation's earnings presentation, Aug 2, 2023
Slide 1: Second Quarter 2023 Business Update
SECOND QUARTER 2023 BUSINESS UPDATE AUGUST 2, 2023
Slide 2: Cautionary statement regarding forward-looking statements
Cautionary statement regarding forward-looking statements This presentation contains certain forward-looking statements within the meaning of the federal securities laws. All statements contained in this presentation that do not relate to matters of historical fact should be considered forward-looki
Slide 3: Aurora Horizon
Aurora Horizon R Key capabilities Maturity Hardware ‘components Aurora Driver + Apeay Jang esouny > a Safety Case partners Truck Customers Additional operational elements Commercial loads / wk Commercialization freight expansion Aurora Geographic and! Q2 o Q3 a4 Autonomy develop ment truck platform
Slide 4: We raised $853 million through a public offering
We raised $853 million through a public offering, including the exercise of the underwriters’ over-allotment option, and concurrent private placement of our Class A common stock ● We received very strong support from key institutional and strategic investors ● We see this fundraising as continued va
Slide 5: Beta 7.0 release and future product releases focus on Aurora Horizon
Our Beta 7.0 release and future product releases focus on delivering the totality of Aurora Horizon A few of the notable advancements on our Dallas to Houston launch lane during the second quarter include: Standardized terminal flow, including Increased on-site service and incorporating terminal con
Slide 6: Second half of 2023 focused on final validation of the Aurora Driver
Looking to the second half of 2023, much of our remaining work will be focused on completing the final validation of the Aurora Driver ● An autonomy system’s performance must be validated against a vast number of scenarios, many of which are thankfully rare on public roads ● Getting adequate exposur
Slide 7: Turning rare on-road events into simulation tests
We turn important but rare on-road events the Aurora Driver has encountered into simulation tests and create variations to further challenge the system’s performance in these scenarios Watch video ▸ ©2023 Aurora Proprietary 7
Slide 8: Synthetically generating the rarest of events
We synthetically generate the rarest of events, which the Aurora Driver has not experienced on the road, from the NHTSA collision categorization and amplify them via permutation NHTSA Crash Types Decomposition An example of a (passing) simulation replicating 4 permutations of the same scenario (out
Slide 9: Simulating fatal collisions on the Dallas to Houston launch lane
To further demonstrate our confidence in the Aurora Driver’s expected performance on our Dallas to Houston launch lane specifically, we looked at the available fatal collision details that involved a tractor trailer for the years 2018 - 2022 ● We simulated those collisions to understand how the Auro
Slide 10: Simulation demonstrating the Aurora Driver avoiding a real world fatal collision
Simulation demonstrating the Aurora Driver avoiding a real world fatal collision In this real life situation, the Texas Department of Transportation crash report showed that a driver, who was suspected of using their cell phone and texting, crossed over into the oncoming traffic lanes and crashed he
Slide 11: Autonomy Readiness Measure (ARM) quantifies progress toward Commercial Launch
The Autonomy Readiness Measure (ARM) quantifies our progress toward Commercial Launch Autonomy Readiness Measure (ARM) (as of 6/30/23) 65% ● Weighted measure of completeness across all claims under our Safety Case for the launch lane ● Reflects the percentage of work needed to move from Feature Comp
Slide 12: Autonomy Performance Indicator (API) tracks on-road performance
The on-road Autonomy Performance Indicator (API) tracks our performance to successfully operate the Aurora Horizon service in a commercially-representative setting Autonomy Performance Indicator (API) (2Q23) 97% ● In over 100,000 commercially-representative miles driven on the launch lane in 2023, i
Slide 13: Cumulative loads, miles and on-time delivery
sl | ree oa Cumulative to-date through 7/31/23, we've delivered Across Nearly 2,290 630k 100% Loads Miles On-Time Aurora casas itary
Slide 14: Appendix
Appendix ©2023 Aurora Proprietary 14
Slide 15: Additional detail regarding our on-road autonomy performance indicator
Additional detail regarding our on-road autonomy performance indicator We believe the key to developing autonomous technology for safe, commercial operation is through robust development, testing, and validation through both simulation and on-road driving. As we have said previously, we believe ther
Slide 16: How the autonomy performance indicator is calculated
The Aurora Driver’s autonomy performance indicator is reflected as a percentage of total commercially-representative miles driven over the quarter, that incorporates three components: ● Miles driven during the quarter that did not require support, with support meaning assistance via a local vehicle
Slide 17: Aurora
Aurora