Aurora Innovation, Inc. · NASDAQ:AUR
Aurora Innovation — Q4 2025 Earnings Presentation
17 slides from Aurora Innovation's earnings presentation, Feb 11, 2026
Slide 1: Fourth Quarter 2025 Business Review
Fourth Quarter 2025 Business Review FEBRUARY 11, 2026 1 © 2026 | AURORA PROPRIETARY
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 Important factors that could cause actual results to differ materially from the securities laws. The words “believe,ˮ “may,ˮ “will,ˮ “estimate,ˮ “
Slide 3: Q4 2025 accelerated growth, validated driverless operations in inclement weather
In the fourth quarter 2025 and early 2026, we accelerated growth, validated driverless operations in inclement weather, and continued to expand our driverless commercial network Aurora Driver surpassed Validated driverless Operating across a 10-lane 250,000 driverless miles on operations in inclemen
Slide 4: Capacity committed through Q3 2026; 200+ driverless trucks by year-end
We have already committed our capacity through the third quarter of 2026 and will finalize contracts for the fourth quarter once we confirm our year-end truck supply — as we turn to DaaS in 2027 and beyond, customer interest already supports a pipeline of thousands of trucks 2026 200 200 Q1 Q2 Q3
Slide 5: Aurora Driver Live showcases the Aurora Driver in action
To provide a window into this progress, we continue to showcase the Aurora Driver in action through Watch Video Aurora Driver Live, a first-of-its-kind glimpse into the future of freight, with more than 9,000 hours Demonstrating the safety, reliability, and growing maturity of the Aurora Driver of w
Slide 6: Focused on increasing the value of our product for customers
Now that we have proven the promise of our technology we are focused on rapidly increasing the value of our product for our customers and ultimately becoming an essential partner in the freight industry 6 © 2026 | AURORA PROPRIETARY
Slide 7: With the Aurora Driver, the future of freight is superhuman
With the Aurora Driver, the future of freight is superhuman Perception Awareness Stamina Reaction Superhuman Superhuman Superhuman Superhuman vision that sees focus that never stamina that reflexes that in all directions gets distracted never stops make decisions the clock in milliseconds 7 © 2026 |
Slide 8: Validation of driverless operations in inclement weather
Camera With our latest software release, we unlocked a critical expansion of our operating domain with the validation of driverless Lidar & Radar operations in multiple forms of inclement weather, including rain, fog, and heavy wind Superhuman Perception: Our multi-modal sensor suite maintains high-
Slide 9: Aurora Driver generalized to expand across the Sun Belt in 2026
With our latest software release, we believe the Aurora Driver is now sufficiently generalized for us to begin expanding across the Sun Belt in 2026, aligned with customer demand We leveraged this generalizability to launch supervised autonomous operations this month on the bidirectional lanes betwe
Slide 10: Tripling our driverless network to 10 lanes
We are more than tripling our driverless network to AZ NM 10 lanes, increasing our PHX ELP DFW current addressable market TX to 3.6+ billion vehicle miles HOU traveled (VMT) LRD Superhuman Utilization: The 1,000+ mile multi-state lane between Fort Worth and Phoenix far exceeds hours of service limit
Slide 11: Automating creation of new content for the Aurora Atlas
We have made meaningful progress automating the creation of new content for the Aurora Atlas, our proprietary HD map technology that By leveraging our Verifiable AI systems, our cloud-based algorithms are able to generate semantic components of the Aurora Atlas from collected data, enhances the safe
Slide 12: Supervised autonomous freight delivery to multiple customer facilities
We have also begun ● Detmar: between their facility in Midland, Texas and Capital Sandʼs supervised autonomous mining site in Monahans, Texas, along I20 ● Hirschbach: between Dallas and Laredo to support their customer freight delivery to Driscollʼs, the largest berry company globally support multi
Slide 13: Partnership with Volvo has entered the industrialization phase
Our partnership with Volvo has entered the industrialization phase with the first Volvo VNL Watch Video Autonomous trucks equipped with the Aurora Driver coming off the pilot line Lineside integration of the Aurora Driver hardware kit at Volvoʼs New River Valley, VA manufacturing facility Key Milest
Slide 14: Exiting 2026 with more than 200 driverless trucks
We anticipate exiting 2026 with more than 200 driverless trucks (without a partner-requested observer) $80M Revenue Run-Rate E This anticipated exit rate translates to an approximately $80 million revenue run-rate for our Transportation as a Service business, establishing a powerful foundation for
Slide 15: Aurora Driver Indicative Roadmap to Scale
Aurora Driver Indicative Roadmap to Scale 2025 2026 2027 Commercial Launch Path to Gross Profit Path to Scale & Self-Funding OWNERSHIP & DELIVERY MODEL Fleet Ownership Aurora Customer Predominantly Customer Delivery First Customer Model Terminal to Terminal Blended Endpoints and Terminals Endpoints
Slide 16: Existing liquidity expected to achieve positive free cash flow in 2028
We expect existing liquidity to be sufficient to achieve positive free cash flow in 2028 Fourth Quarter 2025 Summary Financial Results $ in millions) December 31, 2025 Cash and cash equivalents, short-term investments & $1,459 long-term investments Quarter Ended Year Ended $ in millions) December
Slide 17: © 2026 | AURORA PROPRIETARY
17 © 2026 | AURORA PROPRIETARY