Aurora reports Q2 results: $1.0B cash, 75% of loads achieve 100% API; Uber Freight committed

Aurora Innovation, Inc.

2024-Q2 EPS reported -$0.22

Q2 2024 operating expenses (incl. SBC) $198M; ex-SBC $160M ($138M R&D, $22M SG&A).
Cash used in ops $176M (incl. $49M annual incentive pay); expects Q3/Q4 cash use avg $175-185M per quarter.
Cash and short-term investments $1.0B; liquidity expected to fund ops into Q4 2025.
On Dallas-Houston lane, 75% of loads had 100% API in Q2; on stable software in June, >80% 100% API; target ~90% at launch.
Uber Freight named first launch customer; driverless hauls expected by end of 2024; Premier Autonomy program announced.

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