AUR Nasdaq Russell 1000 Earnings call
Aurora Innovation, Inc. (AUR) · Q2 2026 results
Share price: $4.60 · 2026-11-11
Results Q2 2026 vs Q1 2026 · previous quarter · published 29 Jul 2026 and 6 May 2026
Net loss widened on the previous quarter. Management sounded restrained, in its script and in answers to analysts.
Only a basic analysis is available for this company at the moment.
1 · Numbers
Loss widened
Net income vs Q1 2026
Outlook given
Net income -270.0M vs -223.0M
Revenue +100.0%
Net income -270.0M vs -201.0M in Q2 2025 and -223.0M last quarter.
2 · How management spoke
Restrained
Less upbeat than 66% of company calls
Answers to analysts: typical, in line with the script.
Similar to last call.
3 · What stood out
Guidance
Aurora expects the new kit to reduce Aurora Driver hardware costs by over 50%, which supports the company's target for breakeven gross margin.
Valuation
Reverse DCF. Free cash flow from the last full fiscal year, grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
Valuation unavailable: free cash flow and profit were negative in the last full year and on average over the last three, so there is nothing to discount.
Current price
$4.60
close of 2026-11-11
Revenue growth, 3 years
−64.7% a year
compound annual rate (CAGR)
Free cash flow 2023
−$0.6B
Free cash flow 2024
−$0.6B
Free cash flow 2025
−$0.6B
Read between the lines
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Guidance
Over 200 driverless trucks expected by year-end, translating to roughly an $80 million revenue run rate.
Source quote
“We anticipate exiting the year with more than 200 driverless trucks in operation, which translates to an approximately $80 million revenue run rate for our Transportation-as-a-Service business.”
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Figure
Volvo projects $3 billion in autonomous revenue within five years, reflecting broad enthusiasm and engagement around the industry.
Source quote
“We're seeing broad enthusiasm and engagement around the industry with Volvo projecting $3 billion in autonomous revenue within five years.”
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Fading
New kit should cut Aurora Driver hardware costs by more than 50%, helping reach breakeven gross margin.
Source quote
“We're on the cusp of launching our second-generation commercial hardware kit on a new fleet of driverless trucks. Drawing on our deep experience, safely integrating the Aurora Driver across multiple platforms. This program positions us to exit the year with over 200 driverless trucks in operation across the Sunbelt and supports our broader scaling ambitions in 2027 and beyond.”
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q2 2026. Ring: Q1 2026.
Script and answers carried a similar tone, so the script's message held up under questioning.
Sentences that drove the tone
“Our commercial momentum continues to accelerate after a strong start to the year, driven by a powerful customer flywheel effect.”
“So we're excited to see this help these customers grow and become more profitable.”
“And so we expect that to continue to play out as we continue to improve our execution and drive efficiencies in the operations of the business and improve the system.”
Full figures
USD · SEC EDGAR XBRL (10-Q, period end 2026-06-30)
| Metric | Q2 2026period end 2026-06-30 | Q1 2026period end 2026-03-31 | Change | Q2 2025 | YoY |
|---|---|---|---|---|---|
| Revenue | 2.0M | 1.0M | +100.0% | 1.0M | +100.0% |
| Operating income | -266.0M | -244.0M | Loss widened | -230.0M | Loss widened |
| Net income | -270.0M | -223.0M | Loss widened | -201.0M | Loss widened |
| EPS | -0.14 | -0.11 | Loss widened | -0.11 | Loss widened |
| P/E | 12-mo loss | 12-mo loss | — | 12-mo loss | — |
Topics
Most discussed now
- New In terms of like the active negotiations, Aurora Innovation is working with a couple of folks just to make sure that...
- New They've served a really important purpose for it in demonstrating the technology, starting to build early customer traction and really...
- Aurora Innovation's commercial momentum continues to accelerate after a strong start to the year, driven by a powerful customer flywheel…
- Charger Logistics will utilize the Aurora Driver to add capacity on its network and drive higher utilization starting on the...
- Value Truck will initially focus on boosting route density between two key corridors, Dallas-Laredo and Fort Worth-Phoenix.
Faded since Q1 2026
- Fading Aurora Innovation expects to finalize the definitive agreement, which represents a potential multiyear revenue stream in the hundreds of…
- Fading Aurora Innovation expects the second quarter cash spend to be above the target range due to the timing of its cash...
- Fading During the first quarter, Aurora Innovation generated net proceeds of $14 million from the issuance of Class A common stock through...
- Fading Aurora Innovation expects it is doing work in Q2 to prepare Roush to scale, and they'll really start scaling getting towards that...
Latest announcements
Official filings, newest first.
- Regulation FD disclosure · SEC 8-K
- Results of operations · SEC 8-K
- Shareholder vote results · SEC 8-K
- Results of operations · SEC 8-K
- Director or officer change · SEC 8-K
- Results of operations · SEC 8-K
- Results of operations · SEC 8-K
- Results of operations · SEC 8-K