Aurora Announces Third Quarter 2024 Results
Aurora Innovation (NASDAQ: AUR) announced its Q3 2024 results, highlighting significant progress towards its Commercial Launch. The company has fully contracted its expected launch capacity with the addition of a new customer and strengthened its financial position by adding nearly $500 million to its balance sheet. Aurora also announced a lane expansion to Phoenix, demonstrating continued operational growth. CEO Chris Urmson emphasized the company's strong position to commercialize autonomous trucking at scale.
Aurora Innovation (NASDAQ: AUR) ha annunciato i risultati del terzo trimestre 2024, evidenziando progressi significativi verso il lancio commerciale. L'azienda ha completamente contrattato la sua capacità di lancio prevista con l'aggiunta di un nuovo cliente e ha rafforzato la sua posizione finanziaria aggiungendo quasi 500 milioni di dollari al suo bilancio. Aurora ha anche annunciato un'espansione di percorso verso Phoenix, dimostrando una continua crescita operativa. Il CEO Chris Urmson ha sottolineato la forte posizione dell'azienda per commercializzare il trasporto autonomo su larga scala.
Aurora Innovation (NASDAQ: AUR) anunció sus resultados del tercer trimestre de 2024, destacando avances significativos hacia su lanzamiento comercial. La empresa ha contratado completamente su capacidad de lanzamiento esperada con la adición de un nuevo cliente y ha fortalecido su posición financiera al agregar casi 500 millones de dólares a su balance. Aurora también anunció una expansión de ruta hacia Phoenix, demostrando un crecimiento operativo continuo. El CEO Chris Urmson enfatizó la sólida posición de la compañía para comercializar el transporte autónomo a gran escala.
오로라 이노베이션 (NASDAQ: AUR)이 2024년 3분기 실적을 발표하며 상업 출시를 위한 중요한 진전을 강조했습니다. 회사는 새로운 고객을 추가하여 예상 출시 용량을 완전히 계약하였고, 5억 달러 가까이를 재무제표에 추가하여 재무 건전성을 강화했습니다. 오로라는 또한 피닉스까지의 노선 확대를 발표하며 지속적인 운영 성장을 보여주었습니다. CEO 크리스 얼슨은 자율 트럭 운송을 대규모로 상업화할 수 있는 회사의 강력한 위치를 강조했습니다.
Aurora Innovation (NASDAQ: AUR) a annoncé ses résultats du troisième trimestre 2024, mettant en avant des progrès significatifs vers son lancement commercial. L'entreprise a entièrement contracté sa capacité de lancement attendue avec l'ajout d'un nouveau client et a renforcé sa position financière en ajoutant près de 500 millions de dollars à son bilan. Aurora a également annoncé une expansion de son itinéraire vers Phoenix, démontrant une croissance opérationnelle continue. Le PDG Chris Urmson a souligné la position solide de l'entreprise pour commercialiser le transport autonome à grande échelle.
Aurora Innovation (NASDAQ: AUR) hat seine Ergebnisse für das dritte Quartal 2024 bekannt gegeben und dabei bedeutende Fortschritte in Richtung des kommerziellen Starts hervorgehoben. Das Unternehmen hat seine erwartete Startkapazität vollständig mit der Hinzufügung eines neuen Kunden vertraglich gesichert und seine finanzielle Position gestärkt, indem es fast 500 Millionen Dollar zu seiner Bilanz hinzugefügt hat. Aurora hat auch eine Erweiterung der Strecke nach Phoenix angekündigt, was ein kontinuierliches operatives Wachstum zeigt. CEO Chris Urmson hob die starke Position des Unternehmens hervor, autonomes Fahren in großem Maßstab zu kommerzialisieren.
- Secured full contracting of expected launch capacity with new customer addition
- Added approximately $500 million to balance sheet
- Expanded operational network with new Phoenix lane
- None.
Insights
The Q3 2024 earnings announcement lacks specific financial metrics, making it impossible to evaluate Aurora's actual performance. However, three key business developments are noteworthy: securing full contractual commitments for launch capacity, raising approximately $500 million in capital and expanding operations to Phoenix. The additional customer and capital infusion strengthen Aurora's commercialization runway for autonomous trucking deployment. The self-driving truck market is capital-intensive and this funding provides important operational flexibility. The Phoenix expansion indicates growing operational capabilities, though revenue generation timeline remains uncertain. While these developments are positive for business momentum, investors need concrete financial metrics to assess the company's execution and cash burn rate.
“We are on the brink of a new era in mobility and logistics, and the excitement from the industry, our partners, and customers is palpable,” said Chris Urmson, co-founder and CEO at Aurora. “We’ve fully contracted our expected launch capacity with the addition of another customer, added nearly half a billion dollars to our balance sheet, and announced a lane expansion to
The company will host a business review conference call today, October 30, at 5:00 p.m. Eastern time. The conference call will be webcast on Aurora’s investor relations website at ir.aurora.tech and an accompanying presentation has also been posted to the website. A replay of the webcast will be available for 30 days following the call.
About Aurora
Aurora (Nasdaq: AUR) is delivering the benefits of self-driving technology safely, quickly, and broadly to make transportation safer, increasingly accessible, and more reliable and efficient than ever before. The Aurora Driver is a self-driving system designed to operate multiple vehicle types, from freight-hauling trucks to ride-hailing passenger vehicles, and underpins Aurora’s driver-as-a-service products for trucking and ride-hailing. Aurora is working with industry leaders across the transportation ecosystem, including Continental, FedEx, Hirschbach, PACCAR, Ryder, Schneider, Toyota, Uber, Uber Freight, Volvo Trucks, Volvo Autonomous Solutions, and Werner. To learn more, visit aurora.tech.
Aurora Overview
Aurora Press Kit
Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including but not limited to, the prospects of the development, manufacturing, scaling (including, but not limited to, the opening of new lanes) and commercialization of the Aurora Driver and related services and technology (including relationships with partners and customers) and on the timeframe we expect or at all, and Aurora’s cash management. These statements are based on management’s current assumptions and are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. For factors that could cause actual results to differ materially from the forward-looking statements in this press release, please see the risks and uncertainties identified under the heading “Risk Factors” section of Aurora Innovation, Inc.’s (“Aurora”) Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on February 15, 2024, as amended by the Form 10-K/A filed with the SEC on May 24, 2024, and other documents filed by Aurora from time to time with the SEC, and other documents filed by Aurora from time to time with the SEC, which are accessible on the SEC website at www.sec.gov. All forward-looking statements reflect our beliefs and assumptions only as of the date of this press release. Aurora undertakes no obligation to update forward-looking statements to reflect future events or circumstances.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241030974279/en/
Investor Relations:
Stacy Feit
ir@aurora.tech
Media:
press@aurora.tech
Source: Aurora Innovation, Inc.
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