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Earnings/results
Aurora Innovation Q1 2022 update: Extends partner ecosystem, reports tech advancements; launches Aurora Beacon
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May 4
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Thoma Bravo reportedly in early stage talks to acquire cybersecurity firm Darktrace
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AEye Q2 2022 update: Revenue down 6.2% YoY amid declines in prototype sales and development contracts
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Biotricity, beats analyst estimates in Q1 FY2023 earnings, maintains gross profit margins of 60%
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Biotricity, beats analyst estimates in Q1 FY2023 earnings, maintains gross profit margins of 60%
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Aug 14
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Miso Robotics extends Series E funding round
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Truck Industry Tech

Truck Industry Tech

May 4

Aurora Innovation Q1 2022 update: Extends partner ecosystem, reports tech advancements; launches Aurora Beacon

Earnings/results

  • Aurora Innovation, an autonomous vehicle technology startup, reported its Q1 2022 results today, highlighting the extension of its partner ecosystem, continued advancement in technology, and critical milestones in relation to both Aurora Horizon (its autonomous trucking suite) and Aurora Connect (its autonomous ride-hailing service). 

  • The company reported collaboration revenue of USD 42 million in Q1 2022 (vs. zero revenue in Q1 2021), arising as a result of its ride-hailing product development partnership with Toyota. Aurora reported a loss of USD 143.1 million from operation in Q1 2022 (down by 25.4% YoY).

  • During the quarter, the company expanded its operational infrastructure in Texas to support the commercialization of Aurora Horizon. The company also partnered with US Xpress to introduce self-driving trucks in the latter’s business this February and began a commercial autonomous truck pilot with Werner Enterprises in April to haul goods between Fort Worth and El Paso, Texas. Aurora’s 2021 partnerships with FedEx and Uber Freight for commercial trucking pilots in Texas continued to this quarter, doubling the commercial miles driven and loads delivered compared to 2021.

  • In Q1, the company launched “Aurora Driver Beta 2.0,” its second-generation self-driving hardware and software stack that powers its trucks and cars. The update included advancements in tech to navigate more complex environments such as construction zones, identify and react to the temporary speed limit and lane closure signs, and other unique vehicles.

  • Today, the company also introduced “Aurora Beacon,” a set of cloud-based tools for both its autonomous trucking and ride-hailing services that provide fleet managers with visibility and control. It can be integrated with existing transportation management systems (TMS) for scheduling, dispatch, route guidance, health monitoring, remote observation, and incident response.

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