The chart below shows how AUR performed 10 days before and after its earnings report, based on data from the past quarters. Typically, AUR sees a -2.52% change in stock price 10 days leading up to the earnings, and a -13.00% change 10 days following the report. On the earnings day itself, the stock moves by -2.91%. This data can give you a slight idea of what to expect for the next quarter's release.
Positive
Fiscal Discipline Demonstrated: During the third quarter of 2024, we continued to demonstrate strong fiscal discipline.
Cost Management Efficiency: Operating expenses, including stock-based compensation, totaled $196 million, reflecting effective cost management.
R&D Expense Overview: R&D expenses, excluding stock-based compensation, totaled $139 million, which is supported by $834,000 in pilot revenue, up 75% year-over-year.
Strong Financial Position: We raised $483 million in gross proceeds from a public offering of our Class A common stock, ending the third quarter with a very strong balance sheet, including approximately $1.4 billion in cash and investments.
Liquidity for Commercial Launch: We expect this liquidity to support our planned commercial launch and fund our operations well into 2026.
Negative
Operating Expenses Overview: Operating expenses totaled $196 million, with $161 million excluding stock-based compensation, indicating a significant financial burden.
High R&D Investment: R&D expenses totaled $139 million, reflecting a high investment in development without immediate returns.
Cash Flow Strain: Operating cash usage during the third quarter was approximately $143 million, indicating a strain on liquidity.
Underinvestment in Capital Expenditures: Capital expenditures totaled $7 million, which is below the externally communicated target, reflecting underinvestment.
Cash Usage Projections: The company expects cash usage to be within the $175 million to $185 million quarterly average range, indicating ongoing financial pressure.
Aurora Innovation, Inc. (AUR) Q3 2024 Earnings Call Transcript
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