Aurora Innovation (AUR) investor relations material

Competitive positioning and technology moat

• Maintains a defensible moat through proprietary hardware, supply chain know-how, and a growing customer ecosystem, with daily driverless operations compounding its lead.

• First-mover advantage is reinforced by being the only company currently running driverless trucks on public roads.

• AI advancements are leveraged, but industrializing safety-critical systems and hardware integration remain key differentiators.

Financial outlook and liquidity

• Holds $1.2 billion in liquidity, expected to support operations until positive free cash flow in 2028.

• ATM program usage is limited to covering tax liabilities and cash bonuses in 2027, with opportunistic use otherwise.

• Continuously evaluates financing options, aiming for long-term cash balance and exploring non-dilutive methods.

Commercialization and customer adoption

• Revenue-generating with customers, with pilot relationships already converting to binding agreements.

• Fully allocated for 2026 with 200 driverless trucks, and strong demand for Driver-as-a-Service (DaaS) model.

• Customers are expanding fleets, and onboarding is designed for seamless integration into existing operations.