Aurora Innovation, Inc. · NASDAQ:AUR
Aurora Innovation — Q2 2024 Earnings Presentation
17 slides from Aurora Innovation's earnings presentation, Jul 31, 2024
Slide 1: Business Update | Second Quarter 2024
Business Update | Second Quarter 2024 July 31, 2024 © 2024 | Aurora Proprietary 1
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: Our Q2 and other recent achievements support our path to scale
Our Q2 and other recent achievements support our path to scale Contracted a Announced Premier Received first Volvo Completed the TÜV SÜD completed meaningful portion Autonomy program VNL Autonomous design and initial an industry-first of expected 2025 with Uber Freight fabrication of independent aud
Slide 4: Verifiable AI: Our approach to building a driver
Verifiable AI: Our approach to building a driver that is both human-like in its behavior and structured to follow the rules of the road to deliver a practical, transparent, and commercially scalable solution to market AI is essential to the success of a self-driving system - it solves problems that
Slide 5: Observations: AI and invariants examples
We leverage AI to AI Example: Leveraging AI to Invariant Example: Encoding a navigate complex and safely and naturally change rule of the road guardrail lanes on the highway dynamic scenarios but do not have to rely AI excels at finding the optimal Applying a guardrail to always come to a position i
Slide 6: Driving up the percentage of commercial loads without on-site support
We are focused on driving 100% API Loads up the percentage of Commercial Launch Est. commercial loads that do not require any form of on-site support - 100% API 80%+ 75% 75% % of Loads 61% 62% 48% 32% 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 June 24 4Q24 Stable software release © 2024 | Aurora Proprietary 6
Slide 7: We have contracted a meaningful portion of our expected 2025 capacity
We have contracted a meaningful portion of our expected 2025 capacity, with the remaining supply in the final stages of being contracted, and we have driverless approval from multiple customers © 2024 | Aurora Proprietary 7
Slide 8: We launched Premier Autonomy, a first-of-its-kind program with Uber Freight
We launched Premier Autonomy, a first-of-its-kind program with Uber Freight With early access to 1B+ driverless miles through 2030, hundreds of Uber Freight carriers of all sizes will have an early, streamlined path to purchase and onboard the Aurora Driver This program is expected to accelerate the
Slide 9: We are now scheduling 140 loads per week
We are now scheduling 140 loads per week—nearly triple the commercial volume we were executing a year ago Cumulative to-date 9/23/21 through 7/28/24: We’ve delivered Nearly Across 6,785 Commercial 1.8M+ 100% On-Time Miles Loads (Aurora controlled rated) © 2024 | Aurora Proprietary 9
Slide 10: Aurora Driver in action: Handling aggressive cut-ins
Aurora Driver in action: Handling aggressive cut-ins As the Aurora Driver approaches Houston in heavy traffic, it detects a broken-down semi ahead. A tow truck suddenly swerves across multiple lanes to avoid an exit. The Aurora Driver tracks the chaos beyond human capability, enabling it to instantl
Slide 11: Aurora Driver in action: Detecting a jogger at night
Aurora Driver in action: Detecting a jogger at night As the Aurora Driver navigates dimly lit Houston streets at night, our proprietary FirstLight Lidar detects a jogger over 200 meters ahead, despite trees obscuring the view. To respect and ensure the safety of the jogger, the Aurora Driver immedia
Slide 12: Aurora Driver in action: Navigating an inland Border Patrol checkpoint
Aurora Driver in action: Navigating an inland Border Patrol checkpoint Vehicles traveling on I-10 from El Paso are screened for illegal activity at an inland Border Patrol checkpoint. Here the Aurora Driver autonomously navigates through the Sierra Blanca Border Patrol Station. Our performance and i
Slide 13: OEM and Tier 1 partnerships with Volvo Trucks, PACCAR, and Continental
We have established OEM and Tier 1 partnerships with Volvo Trucks, PACCAR, and Continental that are unmatched in the industry We believe they position only Aurora to commercialize autonomous trucking at scale In May, Volvo Trucks unveiled the production-ready Volvo VNL Autonomous, powered by the Aur
Slide 14: Second Quarter 2024 Summary Financial Results
Second Quarter 2024 Summary Financial Results ($ in millions) June 30, 2024 Cash and cash equivalents, and short-term $1,020 investments Quarter Ended Year Ended ($ in millions) June 30, 2024 December 31, 2023 Operating expenses: Research and development $170 $716 Selling, general and administrative
Slide 15: Appendix
Appendix © 2024 | Aurora Proprietary 15
Slide 16: 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 17: © 2024 | Aurora Proprietary
© 2024 | Aurora Proprietary 17