Aurora Innovation, Inc. has recently released its 10-K report, revealing insights into its financial performance and business operations. The company, founded in 2017 and headquartered in Pittsburgh, Pennsylvania, is engaged in the self-driving technology business, focusing on developing the Aurora Driver, a platform designed to bring together a suite of self-driving hardware, software, and data services to adapt and interoperate various vehicle types and applications.
In the 10-K report, Aurora discusses the management's analysis of its financial condition and results of operations. The company emphasizes its expectation that the Aurora Driver will be commercialized in a Driver as a Service (DaaS) business model, allowing customers or third parties to purchase, manage, and maintain fleets while subscribing to the Aurora Driver and related services. Aurora anticipates earning revenue on a fee per mile basis or a comparable pricing mechanism and plans to partner with OEMs, Tier 1 automotive suppliers, fleet operators, and other third parties to support the commercialization of Aurora Driver-powered vehicles.
The report also highlights significant events and transactions, including the launch of Aurora Driver for Freight in April 2025, marking the commencement of recognizing revenue during the three months ended June 30, 2025. Additionally, Aurora entered into an "at-the-market" offering program, through which it offered and sold approximately 151 million shares of Class A common stock at an average price of $5.96 per share, raising $898 million in equity capital and receiving net proceeds of $874 million after transaction costs.
Aurora's financial performance for the twelve months ended December 31, 2025, compared to the same period in 2024, reveals a significant increase in revenue, from $0 million to $3 million, attributed to the commercial launch of Aurora Driver for Freight. The company reported a loss from operations of $901 million, up from $786 million in the prior year, driven by increases in research and development expenses, which rose by 10% to $745 million, and selling, general, and administrative expenses, which increased by 29% to $142 million.
In terms of liquidity and capital resources, as of December 31, 2025, Aurora had $221 million in cash and cash equivalents, $1,055 million in short-term investments, and $183 million in long-term investments. The company anticipates that its cash on hand and short-term investments will be sufficient to meet its working capital and capital expenditure requirements for at least the next twelve months from the date of the 10-K report.
Aurora also provided details on its cash flows, highlighting a decrease in net cash used in operating activities to $581 million for the twelve months ended December 31, 2025, compared to $611 million in the prior year. The company also reported net cash used in investing activities of $245 million and net cash provided by financing activities of $834 million during the same period.
As a result of these announcements, the company's shares have moved 2.19% on the market, and are now trading at a price of $4.67. If you want to know more, read the company's complete 10-K report here.
