Aurora Innovation, Inc. · NASDAQ:AUR
Aurora Innovation — Q1 2023 Earnings Presentation
19 slides from Aurora Innovation's earnings presentation, May 3, 2023
Slide 1: First Quarter 2023 Business Update
FIRST QUARTER 2023 BUSINESS UPDATE MAY 3, 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 Roadmap to Launch
Aurora Horizon Roadmap to Launch 2023 2024 Q1 Q2 Q3 Q4 Key capabilities Feature Complete 1 ✓ Aurora Driver Aurora Driver Ready Maturity Validation & continuous improvement Continuous improvement Hardware Driverless-ready Continuous hardware cost reduction components Hardened driverless hardware 3 ha
Slide 4: Long-term partnership with Continental for Aurora Driver hardware kit
We entered a first-of-its-kind, long-term partnership with Continental to develop, manufacture, and service a commercially-scalable future generation of the Aurora Driver hardware kit ● We believe industrializing our hardware kit through this partnership will help us achieve the commercial scale and
Slide 5: Beta 6.0 release introduced final driving capabilities; Aurora Driver Feature Complete
Our Beta 6.0 release introduced the final driving capabilities the Aurora Driver needs to commercially operate autonomously on our Dallas to Houston launch lane Detecting out of domain scenarios Identifying involvement in a and identifying a response (including collision and responding pulling to th
Slide 6: Detecting and responding to dense fog
Detecting and responding to dense fog Unexpected dense fog affects the Aurora Driver’s ability to see clearly beyond a few hundred meters. In response, the Aurora Driver slows down, turns on the truck’s hazard lights to signal to other vehicles that it is driving at a reduced speed, and continues on
Slide 7: Detecting and responding to involvement in a collision
Detecting and responding to involvement in a collision Testing at private test tracks allows us to train the Aurora Driver to respond safely. Here we force the Aurora Driver to hit a stationary target on a track to test its ability to detect the collision and execute the appropriate response—pulling
Slide 8: Detecting and avoiding a pedestrian on the highway
Detecting and avoiding a pedestrian on the highway The Aurora Driver detects a pedestrian on the side of the highway over 300 meters away. As the Aurora Driver approaches, the pedestrian darts into moving traffic. The Aurora Driver immediately slows down to allow them to safely pass by, and then con
Slide 9: Feature Complete represents an inflection point on our path to commercialization
Feature Complete represents an inflection point on our path to commercialization It unlocks the final phase of refinement and validation to close the Safety Case for our Dallas to Houston launch lane ©2023 Aurora Proprietary 9
Slide 10: Key technologies enabling progress toward Aurora Driver Ready
When we founded Aurora, we were confident the recent revolution in machine learning was the technology breakthrough needed to commercialize self-driving technology As we enter the final phase of refining the Aurora Driver’s performance, it’s these key technologies that will enable our continued pace
Slide 11: Autonomy Readiness Measure quantifies progress toward Commercial Launch
The Autonomy Readiness Measure (ARM) quantifies our progress toward Commercial Launch Autonomy Readiness Measure (ARM) ● Weighted measure of completeness (as of 3/31/23) 44% across all claims under our Safety Case for the launch lane ● Reflects the percentage of work needed to move from Feature Comp
Slide 12: On-road Autonomy Performance Indicator tracks commercially-representative 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) Evaluating this metric through a commercial lens, this (1Q23) 96% translates to only 4% of commerci
Slide 13: A large majority of our loads had an API of 98% or greater
A large majority of our loads had an API of 98% or greater ● Across the 219 loads completed in pilot operations on our launch lane in Q1, 76% had an API greater than or equal to 98%, 61% had an API greater than or equal to 99%, and 32% had an API of 100% ● 5 loads accounted for ~40% of the manual dr
Slide 14: Achieved Q1 and Q2 commercial load targets
We achieved both our Q1 commercial load target of 40 loads/week and our Q2 target of 50 loads/week Cumulative to-date through 4/30/23, we’ve delivered Across 1,635 455k 98% Loads Miles On-Time ©2023 Aurora Proprietary 14
Slide 15: New commercial pilot with Hirschbach Motor Lines
We announced a new commercial pilot with Hirschbach Motor Lines, Inc., a leader in refrigerated trucking We expect refrigerated trailer capability to be a future growth enabler following Commercial Launch as we demonstrate the ability of autonomous trucks to dramatically expedite shipping of perisha
Slide 16: Appendix
Appendix ©2023 Aurora Proprietary
Slide 17: 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 18: 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 19: Aurora
Aurora