Aurora Innovation (NASDAQ:AUR) Issues Quarterly Earnings Results

Aurora Innovation (NASDAQ:AUR) released its quarterly earnings data on Wednesday. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.02), FiscalAI reports. Aurora Innovation had a negative net margin of 18,000.00% and a negative return on equity of 43.02%. The firm had revenue of $2.00 million for the quarter, compared to the consensus estimate of $1.66 million. During the same quarter in the prior year, the firm earned ($0.11) EPS. The company’s revenue was up 100.0% compared to the same quarter last year.

Here are the key takeaways from Aurora Innovation’s conference call:

• Aurora launched its second-generation driverless truck fleet and expects to exit 2026 with approximately 200 driverless trucks, marking the start of its commercial scaling phase.
• Commercial momentum is expanding through new transportation-as-a-service agreements with Charger Logistics and Value Truck, as well as expanded Volvo Autonomous Solutions operations serving DSV and AVI-SPL.
• The Aurora Driver has completed nearly 440,000 driverless miles through June with 100% on-time performance and no Aurora-attributed collisions. The company also expects its second-generation hardware to reduce hardware costs by more than 50% and support one million miles of operation.
• Manufacturing capacity is ramping, with upfitter Roush expected to reach an annualized production rate of 1,000 trucks in October, while Volvo plans to begin driverless VNL operations in the first quarter of 2027.
• Second-quarter revenue was only $2 million against a $266 million operating loss, while operating cash use reached approximately $225 million. Aurora raised $215 million through its at-the-market offering and ended the quarter with nearly $1.2 billion in cash and short-term investments.

Aurora Innovation Stock Performance

AUR stock traded up $0.06 during mid-day trading on Friday, hitting $6.29. The company had a trading volume of 7,584,896 shares, compared to its average volume of 23,400,998. The firm has a market cap of $12.35 billion, a PE ratio of -13.52 and a beta of 2.63. Aurora Innovation has a 12 month low of $3.60 and a 12 month high of $8.56. The stock’s fifty day moving average price is $6.45 and its two-hundred day moving average price is $5.46.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Wall Street Zen downgraded Aurora Innovation from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. Cantor Fitzgerald reiterated an “overweight” rating and set a $12.00 price target on shares of Aurora Innovation in a report on Thursday, July 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aurora Innovation in a report on Friday, July 17th. Needham & Company LLC reissued a “buy” rating and set a $13.00 price target on shares of Aurora Innovation in a research report on Thursday, May 7th. Finally, TD Cowen upped their price objective on shares of Aurora Innovation from $4.70 to $7.00 and gave the stock a “hold” rating in a research report on Thursday, May 7th. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Aurora Innovation presently has an average rating of “Hold” and a consensus target price of $12.22.

Insider Buying and Selling

In related news, Director David M. Wehner purchased 82,500 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average price of $6.04 per share, with a total value of $498,300.00. Following the acquisition, the director owned 246,519 shares of the company’s stock, valued at $1,488,974.76. This trade represents a 50.30% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Reid Hoffman sold 5,498,487 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $7.81, for a total value of $42,943,183.47. Following the completion of the transaction, the director owned 77,500 shares in the company, valued at approximately $605,275. The trade was a 98.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 7,048,487 shares of company stock valued at $54,295,119 over the last three months. Insiders own 8.52% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Squarepoint Ops LLC increased its holdings in Aurora Innovation by 3,256.1% in the 2nd quarter. Squarepoint Ops LLC now owns 6,753,259 shares of the company’s stock worth $35,387,000 after acquiring an additional 6,552,034 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in shares of Aurora Innovation in the second quarter worth $31,250,000. Bank of Nova Scotia purchased a new position in shares of Aurora Innovation in the fourth quarter valued at $21,673,000. Durable Capital Partners LP lifted its holdings in Aurora Innovation by 36.7% during the 2nd quarter. Durable Capital Partners LP now owns 20,404,238 shares of the company’s stock worth $106,918,000 after purchasing an additional 5,481,969 shares in the last quarter. Finally, Amundi lifted its holdings in Aurora Innovation by 124.3% during the 3rd quarter. Amundi now owns 5,263,984 shares of the company’s stock worth $29,110,000 after purchasing an additional 2,917,342 shares in the last quarter. Hedge funds and other institutional investors own 44.71% of the company’s stock.

Aurora Innovation Company Profile

Aurora Innovation, Inc is a technology company specializing in the development of self-driving vehicle systems for both passenger and commercial applications. Headquartered in Mountain View, California, Aurora has built an end-to-end platform—known as the Aurora Driver—that integrates proprietary software, machine learning algorithms and a suite of sensors (LiDAR, radar and cameras) to enable vehicles to operate safely and efficiently in diverse driving environments.

The company’s core business revolves around designing, testing and deploying its autonomy stack on vehicles from established automotive and transportation partners.