Aurora Innovation, Inc. · NASDAQ:AUR
Aurora Innovation — Q3 2025 Earnings Presentation
18 slides from Aurora Innovation's earnings presentation, Oct 28, 2025
Slide 1: Third Quarter 2025 Business Review
Third Quarter 2025 Business Review October 28, 2025 1 © 2025 | 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 Additional information will also be set forth in our Quarterly Report on Form 10Q of the federal securities laws. All statements contained in this presentation
Slide 3: Industry firsts and path to scale
In the third quarter and early October, we achieved several more driverless trucking industry firsts, rapidly advancing our path to scale and further extending our leadership position Aurora Driver surpassed Launched driverless Fortified our near-term 100,000 driverless miles operations on a second
Slide 4: Aurora Driver Live
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 6,000 hours Driverless trucks traversing the route between Dallas and Houston, as well as Fort Wo
Slide 5: Werner safety team feedback
A member of Wernerʼs safety team and one of their most seasoned drivers Watch Video recently came down to Texas to assess the Aurora Driverʼs performance They were blown away by the Aurora Driver's key advantages: ● superior perception, ● constant focus, and ● safe handling of monotonous lanes “The
Slide 6: Rapidly increasing value 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 © 2025 | AURORA PROPRIETARY
Slide 7: 2025 Product Roadmap: Crawl, Walk, Run Approach
2025 Product Roadmap: Crawl, Walk, Run Approach 7 © 2025 | AURORA PROPRIETARY
Slide 8: Driverless operations on Fort Worth to El Paso
We launched driverless commercial operations AZ NM on the westbound PHX ELP DFW 600-mile lane from Fort TX Worth to El Paso, setting HOU a new benchmark for Driverless Operations autonomous trucking Future Driverless Operations This expansion, accomplished just six months after our driverless launch
Slide 9: Expanded driverless operations with carriers
With the launch of our new driverless lane from Fort Worth to El Paso, weʼve expanded driverless operations for Hirschbach and welcomed two additional carriers — including one of the leading carriers in the U.S. — to our growing driverless cohort 9 © 2025 | AURORA PROPRIETARY
Slide 10: Validating driverless operations in challenging weather
We continue to make progress validating driverless operations in challenging weather, including rain and heavy wind conditions, which we expect to complete with our January 2026 software release Launching driverless operations from Fort Worth to El Paso required validating behavior in dust storms —
Slide 11: Second generation commercial hardware kit
We continue to advance our second generation commercial hardware kit to support our initial scaling and cost reduction objectives We expect our second generation commercial kit to drive a 50% reduction in our hardware costs, and are also seeing some meaningful performance gains, particularly with t
Slide 12: Second generation hardware launch
In the second quarter of “As an early adopter, we embrace the opportunity to help define the future of freight 2026, we plan to launch technology. Integrating an additional fleet our second generation strengthens our driverless capacity — a vital advancement in ensuring we meet customer commercial h
Slide 13: OEM partner progress
We also continue to make great progress with our OEM partners on purpose-built self-driving platforms designed for We achieved an industry-first partnership manufacturing milestone with Volvo as they began lineside integration of the second generation Aurora Driver commercial hardware kit into the V
Slide 14: Third generation commercial hardware kit
Looking further ahead, we continue to progress In September, Continental completed the spin-off of their automotive our third generation business, AUMOVIO. At the recent Supplier Day, AUMOVIO highlighted our flagship program. commercial hardware kit that we believe will unlock scale on the order of
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: Carrier perspective and profit growth
Carrier Perspective: The Aurora Driver has the potential to deliver significant revenue and profit growth Illustrative End-to-End Case Study: 1 week comparison Estimated Revenue Estimated Profit $ / truck $ / truck 16,400 Phoenix Fort Worth Distance: 1,000 miles $1,510 incremental profit 816% high
Slide 17: Third Quarter 2025 Summary Financial Results
Third Quarter 2025 Summary Financial Results $ in millions) September 30, 2025 Cash and cash equivalents, short-term investments & $1,604 long-term investments Quarter Ended Year Ended $ in millions) September 30, 2025 December 31, 2024 Revenue $1 $ Cost of revenue 6 - Research and development 17
Slide 18: © 2025 | AURORA PROPRIETARY
18 © 2025 | AURORA PROPRIETARY