Key Highlights

  • Consensus EPS of negative 0.12 compares with second-quarter basic net loss per share of 0.14.
  • Consensus revenue of USD 2.99 million compares with second-quarter revenue of USD 2 million, against USD 1 million.
  • Management guided 2026 revenue of USD 14 million to USD 16 million for the full year.
  • Management guided 20 to 25 driverless trucks in operation by the end of the third quarter.

Aurora Innovation (NASDAQ:AUR) reports third-quarter results on Wednesday, Oct. 28, after the market closes. Consensus stands at EPS of -0.12 on revenue of USD 2.99 million, and the company has a market capitalization of USD 9.76 billion.

Aurora Innovation develops autonomous driving technology for trucks and operates driverless trucking services. Second-quarter revenue was USD 2 million against USD 1 million, and the net loss was USD 270 million against USD 201 million.

Estimates Against Second-Quarter Results and 2026 Guidance

The EPS estimate of negative 0.12 compares with a second-quarter basic net loss per share of 0.14. The estimates table does not state its EPS basis. The revenue estimate of USD 2.99 million is above the USD 2 million reported, which compared with USD 1 million a year earlier.

Management gave no third-quarter revenue range. It guided 2026 revenue of USD 14 million to USD 16 million, representing growth of approximately 400% at the midpoint, and a revenue run rate of USD 80 million by the end of 2026, driven by scaling of the Transportation as a Service fleet.

What Management Guided and What It Left Open

Management guided 20 to 25 driverless trucks in operation by the end of the third quarter and more than 200 by the end of 2026. It guided quarterly cash use of approximately USD 190 million to USD 220 million on average in 2026 and full-year capital expenditures of approximately USD 150 million.

Management left open the ramp of the Roush manufacturing line, saying it expects the line to reach full velocity in the fourth quarter but that challenges could arise along the way. Roush plans an annual run rate of 1,000 trucks by October 2026, and driverless operations on the Volvo VNL platform are scheduled for the first quarter of 2027.

Operating Loss and Spending Detail

The operating loss was USD 266 million against USD 230 million, including USD 60 million of stock-based compensation. Research and development expenses were USD 211 million against USD 190 million, and selling, general and administrative expenses were USD 50 million against USD 36 million. Cost of revenue was USD 7 million against USD 5 million.

Operating cash use was USD 225 million, including USD 63 million of cash bonus payments, and capital expenditures were USD 31 million. The net loss was USD 270 million against USD 201 million.

Driverless Miles, Liquidity and Partners

Driverless mileage reached nearly 440,000 miles since launch through the end of June, with 100% on-time performance and zero attributed collisions. Cumulative commercial miles exceeded 6 million, and hardware costs for the second-generation kit fell by more than 50%.

Liquidity was nearly USD 1.2 billion in cash and short-term investments, including USD 215 million of net proceeds from the issuance of 30 million shares. The filing shows cash and cash equivalents of USD 136 million and short-term investments of USD 1,081 million. The estimates table lists a market capitalization of USD 9.76 billion.

Items to Track in the Report

Reported EPS against negative 0.12 and revenue against USD 2.99 million are the headline comparisons. Other markers are the driverless truck count, cash use and the 2026 revenue guidance.