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Aurora Innovation

Logo: aurora.tech5

Self-driving vehicle technology company

Aurora Innovation, Inc., doing business as Aurora, is a self-driving vehicle technology company based in Pittsburgh, Pennsylvania. Aurora has developed the Aurora Driver, a computer system that can be integrated into vehicles for autonomous driving. It was co-founded by Chris Urmson, the former chief technology officer of Google/Alphabet Inc.'s self-driving team, which became known as Waymo, as well as by Sterling Anderson, former head of Tesla Autopilot, and Drew Bagnell, former head of Uber's autonomy and perception team.3 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

$3.0MRevenue, fiscal 20256
-$816.0MNet income, fiscal 20256
2016Founded1

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  • TickerAUR on Nasdaq1
  • Industryautonomous car1
  • HeadquartersPalo Alto1
  • Websiteaurora.tech
  • Incorporated inDE7
  • Business address1654 Smallman St., Pittsburgh, Pa 152227
  • Filer categoryLarge accelerated filer7
  • Legal formCorporation4
  • LEI984500AB2E0D9F7D9D764
  • StatusActive4
  • LEI statusIssued and current4
  • Registered addressCORPORATION TRUST CENTER 1209 ORANGE ST, 19801 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 63597094

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Aurora Innovation image from its website
Image: aurora.tech10

Aurora Innovation, Inc., doing business as Aurora, is a self-driving vehicle technology company based in Pittsburgh, Pennsylvania. Aurora has developed the Aurora Driver, a computer system that can be integrated into vehicles for autonomous driving. It was co-founded by Chris Urmson, the former chief technology officer of Google/Alphabet Inc.'s self-driving team, which became known as Waymo, as well as by Sterling Anderson, former head of Tesla Autopilot, and Drew Bagnell, former head of Uber's autonomy and perception team.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-30033.3%Operating margin6
-27200.0%Net margin6
-38.1%Return on equity6
-$612.0MFree cash flow6

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue2¢$17.0M
  • Research and development82¢$745.0M
  • Selling, general and admin16¢$142.0M

Out of $3.0M in revenue.6 The company lost money this year.

Financial statements

Revenue11126$3.0M in 2025−85% since 2019
0$25.0M$50.0M$75.0M$100.0M2019: $19.6M$19.6M20192020: $0$020202021: $82.0M$82.0M20212022: $68.0M$68.0M2022−17%2023: $0$020232024: $0$020242025: $3.0M$3.0M2025
Operating income111213146-$901.0M in 2025+694% since 2019
-$2.0B-$1.5B-$1.0B-$500.0M02019: -$113.5M-$113.5M20192020: -$218.0M-$218.0M2020+92%2021: -$731.0M-$731.0M2021+235%2022: -$1.9B-$1.9B2022+153%2023: -$835.0M-$835.0M2023−55%2024: -$786.0M-$786.0M2024−6%2025: -$901.0M-$901.0M2025+15%
Net income111213146-$816.0M in 2025+767% since 2019
-$2.0B-$1.5B-$1.0B-$500.0M02019: -$94.1M-$94.1M20192020: -$214.0M-$214.0M2020+127%2021: -$755.0M-$755.0M2021+253%2022: -$1.7B-$1.7B2022+128%2023: -$796.0M-$796.0M2023−54%2024: -$748.0M-$748.0M2024−6%2025: -$816.0M-$816.0M2025+9%

Every line of the income statement as filed: the last 3 fiscal years, latest first.6

Period ending2025-12-312024-12-312023-12-31
Revenue$3.0M$0$0
Cost of revenue$17.0M$0$0
Research and development$745.0M$676.0M$716.0M
Selling, general and administrative$142.0M$110.0M$119.0M
Loss from operations-$901.0M-$786.0M-$835.0M
Change in fair value of derivative liabilities$29.0M-$24.0M-$20.0M
Other income, net$56.0M$62.0M$59.0M
Loss before income taxes-$816.0M-$748.0M-$796.0M
Income tax expense$0$0$0
Net loss-$816.0M-$748.0M-$796.0M
Basic net loss per share (in usd per share)-$0.44-$0.46-$0.60
Diluted net loss per share (in usd per share)-$0.44-$0.46-$0.60
Basic weighted-average shares outstanding (in shares)1.8B shares1.6B shares1.3B shares
Diluted weighted-average shares outstanding (in shares)1.8B shares1.6B shares1.3B shares

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Corporate structure

Aurora Innovation sits at the top of its group. 3 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Aurora Innovation

  • Aurora Innovation Pittsburgh, Pennsylvania, United States
    • Aurora Innovation Holdings, Inc. Subsidiary · Delaware, United States
    • Aurora Operations, Inc. Subsidiary · Delaware, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Aurora Innovation reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$187.0M6 Dec 31, 2025$181.0M6 Dec 31, 2024+3.3%
Accumulated depreciation$84.0M6 Dec 31, 2025$77.0M6 Dec 31, 2024+9.1%
Property and equipment, net$103.0M6 Dec 31, 2025$104.0M6 Dec 31, 2024−1.0%
Operating-lease assets (leased space)$85.0M6 Dec 31, 2025$120.0M6 Dec 31, 2024−29.2%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$221.0M6 Dec 31, 2025$211.0M6 Dec 31, 2024+4.7%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$014 Dec 31, 2024$014 Dec 31, 2023
Intangible assets, net (excluding goodwill)$617.0M6 Dec 31, 2025$617.0M6 Dec 31, 20240%

Properties, in its own words

Our corporate headquarters is located in Pittsburgh, Pennsylvania. Our Pittsburgh facilities contain research and development and general and administrative functions. We also lease office space in Mountain View, California and office and industrial space in various other cities across the United States.

We believe our facilities are adequate and suitable for our current needs and that, should it be needed, suitable additional or alternative space will be available to accommodate our operations.

Item 2 of the 10-K filed Feb 11, 2026.19

The story

Founded by Chris Urmson in 2016.1

Aurora was founded in 2017 by Chris Urmson, the former chief technology officer of Google/Alphabet Inc.'s self-driving team, which became known as Waymo. Previously, Urmson was a member of Carnegie Mellon's Red Team, which competed in DARPA's Grand Challenges for autonomous vehicles. His two co-founders are Sterling Anderson, former head of Tesla Autopilot, and Drew Bagnell, former head of Uber's autonomy and perception team. Anderson left Aurora in May 2025 and joined General Motors (GM) in June.

In January 2018, Aurora signed deals with Volkswagen and Hyundai to develop self-driving software for commercial vehicles. Also in January 2018, at CES 2018, Nvidia partnered with Aurora to provide hardware for Aurora's self-driving systems.

In October 2018, Aurora became the first self-driving vehicle company authorized to test its vehicles in Pennsylvania.

In January 2019, the company raised financing at a $2 billion valuation.

In May 2019, Aurora acquired Blackmore, a Bozeman, Montana-based company focusing on Frequency Modulated Continuous Wave (FMCW) lidar. In June 2019, Aurora announced a partnership with Fiat Chrysler Automobiles to develop self-driving technology in commercial vans. As a result of this partnership, the company was able to acquire Chrysler Pacifica minivans for its fleet of test vehicles. In June 2019, Volkswagen also announced they would be ending their partnership with Aurora.

Aurora expanded its operations to Texas in June 2020, bringing a fleet of test vehicles into the Dallas-Fort Worth area. In July 2020, Aurora debuted its own long-range lidar system called "FirstLight."

In September 2020, the company moved its headquarters to the Strip District.

In December 2020, Aurora acquired Advanced Technologies Group (ATG), Uber's self-driving unit. Uber CEO Dara Khosrowshahi subsequently joined Aurora's board of directors. Uber also invested $400 million in Aurora and took a 26% ownership stake in the company.

Read the full text

In January 2021, Aurora partnered with Paccar to develop its first commercial product, a driverless truck. Their technology will be paired with Paccar's Peterbilt 579 and Kenworth T680 semi-trucks.

In February 2021, Aurora partnered with Toyota and Denso to develop self-driving taxis.

In March 2021, Aurora acquired 5D lidar company OURS Technology, a silicon photonics startup. Also in March, Aurora announced it was partnering with Volvo Group to develop driverless trucks.

In November 2021, the company became a public company via a merger with Reinvent Technology Partners Y, a special-purpose acquisition company set up by Reid Hoffman and Mark Pincus which provided $2 billion in additional funding.

In March 2022, Aurora unveiled its test fleet of autonomous Toyota Sienna robotaxi. Following this, In May 2022, Aurora announced the development of the Aurora Beacon platform. The platform is a cloud-based mission control system designed for customers to optimise operations of autonomous vehicles via real time metrics such as status, location, and health of vehicles.

In May 2022, Aurora announced the expansion of the organization's self-driving freight pilot with FedEx. The expansion is to include service from Fort Worth to El Paso, Texas. The new route challenged the company for its longest freight truck journey of about 600 miles, in which they will operate on a weekly basis. As of May, Aurora and FedEx have completed a total of 60,000 miles with zero safety incidents, according to the company.

In March 2023, Aurora had 28 Class 8 self-driving trucks that run on public roads and are used with safety backup drivers. Aurora issued a joint application along with Waymo to the Federal Motor Carrier Safety Administration. The companies requested a five-year exemption from rules that require drivers to place reflective triangles or a flare around a stopped tractor-trailer truck, to alert other drivers. Waymo and Aurora instead want to use warning beacons mounted on the truck cab, to avoid needing human drivers.

In April 2023, Aurora partnered with Continental to deliver autonomous driving systems for the trucking industry.

In May 2023, Aurora was featured in Barack Obama's Netflix docuseries Working: What We Do All Day.

In June 2023, David Maday replaced Richard Tame as CFO. In January 2025, Uber CEO Dara Khosrowshahi resigned from Aurora's board of directors.

In May 2024, Aurora and Volvo Trucks unveiled the Class 8 Volvo VNL Autonomous at ACT Expo.

Executive changes

In May 2025, Sterling Anderson, Aurora's co-founder and Chief Product Officer, announced his resignation, effective June 1. He also stepped down from the company's board of directors on August 31. Anderson stated that his departure was not due to any disagreements with Aurora's operations or policies. He expressed that leaving was a difficult decision but felt confident in the company's trajectory, noting that Aurora had reached a critical inflection point with established product strategy, deployed technology, and a team poised for scaling.

Expansion of driverless trucking operations

In the second half of 2025, Aurora plans to expand its driverless trucking operations to include night driving and operation during adverse weather conditions, such as rain and heavy winds. The company also intends to extend its driverless routes beyond the Dallas–Houston corridor to include El Paso, Texas, and Phoenix, Arizona. Aurora's CFO, Dave Maday, indicated that enabling night operations could potentially double the company's drive time, enhancing asset utilization.

As of May 2025, Aurora operates two driverless trucks on a daily basis and expects to scale up to "tens of trucks" by the end of the year. The company plans to own, operate, maintain, and insure its own trucks for carrier customers in the short term, with some trucks available on the Uber Freight network. Starting in 2027 or earlier, Aurora anticipates that customers will purchase self-driving trucks directly from manufacturers, transitioning to a driver-as-a-service model aimed at achieving higher gross margins.

From Wikipedia’s article on Aurora Innovation, shared under CC BY-SA 4.0.8

Leadership

Who has led Aurora Innovation, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Michael N. Thompson Jr.2021
  2. Chris Urmson2025–now

President

  1. Ossa Fisher2023–now

Chief financial officer

  1. Michael N. Thompson Jr.2021
  2. David Maday2025–now
20202025
Board members and other officers (26)

Products and brands

The company developed the Aurora Driver, a system that consists of sensors, software, and hardware. It can be installed in passenger or commercial automobiles, converting them into self-driving vehicles. The Aurora Driver's software uses data from its sensors to devise a safe path through a given route, while its computer powers these components and integrates them with the vehicle. The system's sensors use Aurora's FirstLight lidar, which was developed from Blackmore's FMCW lidar technology. The first vehicle to be outfitted with the Aurora Driver was the Toyota Sienna.

Conventional lidar uses pulses of light to acquire information about objects surrounding the sensor, including distance and velocity. In contrast, FMCW lidar uses a low-powered continuous beam of light, enabling faster acquisition of distance, velocity, and acceleration of surrounding objects, but often requires bulky mirrors and rangefinders. By acquiring OURS, Aurora hopes to reduce the size of the FMCW lidar hardware.

In 2022, Aurora unveiled "Fusion", the next generation of its hardware kit, which combined the company's FirstLight lidar, imaging radar and cameras with a more powerful onboard computer and debuted in commercial pilots. Aurora launched commercial driverless trucking operations on the Dallas–Houston corridor in late April 2025. In the third quarter of 2025, the company reported surpassing 100,000 driverless miles on public roads with no safety incidents attributed to the system, operating five driverless trucks, and opened a second freight route between Fort Worth and El Paso. Aurora plans to launch a second-generation commercial hardware kit in the second quarter of 2026, intended to roughly halve hardware costs while doubling the range of its FirstLight lidar to 1,000 meters and improving all-weather operation. Manufactured by Fabrinet, this kit is being integrated with platforms including the Volvo VNL Autonomous and the International LT Series. A third-generation, highly scalable hardware system co-developed with AUMOVIO (formerly Continental) is slated for production in 2027.

From Wikipedia’s article on Aurora Innovation, shared under CC BY-SA 4.0.8

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Aurora Innovation Holdings, Inc. Delaware9
  • Aurora Operations, Inc. Delaware9

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • Reinvent Technology Partners YDec 14, 2020 to Nov 3, 20217

Timeline

  1. Sep 23, 20268-K Regulation FD disclosure48
  2. Jul 29, 20268-K Results of operations49
  3. May 26, 20268-K Shareholder vote50
  4. May 6, 20268-K Results of operations51
  5. Feb 27, 20268-K Executive or director change52
  6. Feb 11, 20268-K Results of operations53
  7. Nov 26, 2025New chief executive Chris Urmson becomes CEO20
  8. Oct 28, 20258-K Results of operations54
  9. Jul 30, 20258-K Results of operations55
  10. May 23, 20258-K Shareholder vote56
  11. May 8, 20258-K Results of operations; Executive or director change57
  12. May 1, 20258-K Regulation FD disclosure58
  13. Feb 12, 20258-K Results of operations59
  14. May 6, 2021Went public Listed on NASDAQ1
  15. Mar 15, 2021New chief executive Michael N. Thompson Jr. becomes CEO21
  16. 2016Founded Founded1

Calendar

Coming up

  1. Oct 28, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported ($0.11) a share, on Oct 28, 2025.60

When it reported results

  1. Jul 29, 2026Reported quarterly or annual results49
  2. May 6, 2026Reported quarterly or annual results51
  3. Feb 11, 2026Reported quarterly or annual results53
  4. Oct 28, 2025Reported quarterly or annual results54
  5. Jul 30, 2025Reported quarterly or annual results55
  6. May 8, 2025Reported quarterly or annual results57
  7. Feb 12, 2025Reported quarterly or annual results59
  8. Oct 30, 2024Reported quarterly or annual results61

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

567 filings to the SEC since October 2021: 7 annual reports, 15 quarterly reports, 55 major events, 206 insider forms, 60 large holders, 224 other. The latest 20:

  1. Oct 1, 20264 EDGAR
  2. Oct 1, 20264 EDGAR
  3. Sep 23, 20268-K EDGAR
  4. Sep 17, 20264 EDGAR
  5. Sep 17, 2026SCHEDULE 13D/A EDGAR
  6. Aug 21, 20264 EDGAR
  7. Aug 21, 20264 EDGAR
  8. Aug 21, 20264 EDGAR
  9. Aug 19, 20264 EDGAR
  10. Aug 19, 2026SCHEDULE 13D/A EDGAR
  11. Aug 19, 20264 EDGAR
  12. Aug 17, 2026144 EDGAR
  13. Aug 17, 2026144 EDGAR
  14. Aug 14, 2026SCHEDULE 13G/A EDGAR
  15. Aug 13, 2026144 EDGAR
  16. Aug 13, 2026144 EDGAR
  17. Aug 13, 20264 EDGAR
  18. Aug 13, 2026SCHEDULE 13G/A EDGAR
  19. Aug 12, 2026144 EDGAR
  20. Aug 12, 2026144 EDGAR

The 567 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

89 open-market trades by officers, directors and large owners since October 2021: 4 buys and 85 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 15, 2026Uber Technologies, Inc10% ownerSale29,369,611$6.21$182.4MForm 4
Aug 17, 2026Uber Technologies, Inc10% ownerSale72,000,000$6.55$471.6MForm 4
Aug 17, 2026Volpi MichelangeloDirectorSale2,842,682$7.00$19.9MForm 4
Aug 13, 2026Volpi MichelangeloDirectorSale22,501$7.01$157.7KForm 4
Aug 12, 2026Volpi MichelangeloDirectorSale14,916$7.00$104.4KForm 4
Aug 11, 2026Volpi MichelangeloDirectorSale1,441,849$6.99$10.1MForm 4
Aug 10, 2026Volpi MichelangeloDirectorSale34,701$7.00$242.9KForm 4
Aug 7, 2026Volpi MichelangeloDirectorSale1,854,322$7.05$13.1MForm 4
Aug 5, 2026Volpi MichelangeloDirectorSale179,782$7.07$1.3MForm 4
Jun 11, 2026Wehner David M.DirectorBuy82,500$6.04$498.3KForm 4
Jun 2, 2026Uber Technologies, Inc10% ownerSale67,500,000$7.10$479.2MForm 4
May 28, 2026Hoffman ReidDirectorSale1,202,354$7.27$8.7MForm 4
May 18, 2026Hoffman ReidDirectorSale347,646$7.51$2.6MForm 4
May 15, 2026Hoffman ReidDirectorSale5,498,487$7.81$42.9MForm 4
Nov 25, 2025Urmson ChristopherChief Executive OfficerBuy258,000$3.88$1.0MForm 4
Sep 30, 2025Bagley BrittanyDirectorSale50,000$5.39$269.5KForm 4
Aug 6, 2025Donahoe John JDirectorBuy162,337$6.10$990.3KForm 4
Jun 6, 2025Boyland Gloria R.DirectorSale46,097$5.92$272.9KForm 4
Nov 26, 2024Boyland Gloria R.DirectorSale30,000$6.30$189.0KForm 4
Nov 18, 2024Hoffman ReidDirectorSale537,837$5.48$2.9MForm 4

All 89 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Shelley WebbChief Legal Officer44$412.5K$8.9M80
2025David Maday56$544.8K$7.1M80
2025Ossa Fisher49$527.9K$3.1M80
2025Chris Urmson49$479.2K$879.0K80
2025Nolan Shenai$6.5K80
2024Chief Financial Officer$523.8K$1.5M80
2024FormerGeneral Counsel and Secretary$423.0K$1.4M80
2024President$519.8K$1.0M80
2024Chief Executive Officer$403.1K80
2023President$432.7K$5.0M80
2023Chief Financial Officer$481.1K$3.5M80
2023FormerGeneral Counsel and Secretary$400.0K$902.0K80
2023Chief Executive Officer$400.0K$687.5K80

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Uber Technologies, Inc258,473,411$1.8B39.1%−67,500,000
Morgan Stanley213,915,089$1.5B0.1%+21,473,026
Vanguard Portfolio Management LLC83,371,305$568.6M0.0%−5,361,033
Capital Research Global Investors83,051,619$566.4M0.1%+312,165
Capital International Investors77,638,388$529.5M0.1%New
Vanguard Capital Management LLC69,715,424$475.5M0.0%+762,812
BlackRock, Inc.68,470,786$467.0M0.0%+6,226,964
Baillie Gifford & Co55,182,704$376.3M0.3%−18,078,996
Bank Of America Corp /de/23,516,606$160.4M0.0%−6,519,563
State Street Corp22,922,729$156.3M0.0%+1,293,487
Geode Capital Management, LLC22,862,658$156.0M0.0%+119,366
D. E. Shaw & Co., Inc.22,374,639$152.6M0.1%−6,885,486
Jupiter Topco LLC18,217,970$124.2M0.1%New
Goldman Sachs Group Inc16,530,511$112.7M0.0%+25,753
Xn LP15,447,541$105.4M2.8%New
Daiwa Securities Group Inc.14,369,599$98.0M0.2%New
Sb Investment Advisers (uk) Ltd14,279,073$97.4M1.3%−5,532,687
UBS Group AG12,587,650$85.8M0.0%+5,736,699
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.12,533,355$85.5M0.1%+358,571
Charles Schwab Investment Management Inc11,936,086$81.4M0.0%+71,927
Ghisallo Capital Management LLC11,906,578$81.2M1.9%New
Foxhaven Asset Management, LP11,553,993$78.8M2.1%+820,944
Durable Capital Partners LP10,889,415$74.3M0.7%+9,403,379
Dimensional Fund Advisors LP10,416,868$71.0M0.0%−1,390,141
Allen Operations LLC10,385,096$70.8M9.8%No change

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Aurora Innovation is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARAurora Innovation, Inc.2
  • CIK0001828108
  • Employer ID (EIN)98-156226519
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company19
  • Incorporated inDelaware19
  • Fiscal year endsDecember 312
  • Industry code (SIC)7373 Services-Computer Integrated Systems Design2
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance2
  • Business address1654 Smallman St., Pittsburgh, PA 152222
  • Mailing address50 33Rd St, Pittsburgh, PA 152012
  • Phone(888) 583-95062
  • Shares outstanding1,640,974,059 Common Class A shares; 307,839,183 Common Class B shares as of Feb 4, 202619
  • Public float$5.7B as of Jun 30, 202519
  • AuditorPricewaterhouseCoopers LLP, Pittsburgh, Pennsylvania PCAOB ID 238; it also attests to the company’s internal control over financial reporting19
  • On EDGAR sinceDec 14, 20202
  • Filings621 in all: 4 (185), 144 (132), 8-K (57), 425 (41), 3 (29), 424B3 (21), 10-Q (17), SCHEDULE 13G/A (16)2
    All 39 form types

    SC 13G (11), SC 13G/A (10), CORRESP (9), EFFECT (9), SC 13D/A (8), 424B5 (6), DEFA14A (6), S-8 (6), SC 13D (6), SCHEDULE 13D/A (6), 10-K (5), DEF 14A (5), UPLOAD (5), ARS (4), POS AM (3), S-3 (3), SCHEDULE 13G (3), 10-K/A (2), 8-K/A (2), S-1 (2), S-4/A (2), 25-NSE (1), 4/A (1), 424B4 (1), 8-A12B (1), CERT (1), DRS (1), PRE 14A (1), S-1/A (1), S-3ASR (1), S-4 (1)

  • Latest filingsAnnual report (10-K) Feb 11, 2026
    Quarterly report (10-Q) Jul 29, 2026
    Proxy statement (DEF 14A) Apr 2, 2026
    Latest 8-K (8-K) Sep 23, 2026

Securities registered for trading

ClassSymbolExchange
Class A common stock, par value $0.00001 per shareAURThe Nasdaq Stock Market LLC
Redeemable warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50AUROWThe Nasdaq Stock Market LLC

From the cover page of the 10-K filed Feb 11, 2026 (Section 12(b) of the Exchange Act).19

Risk factors and legal proceedings

The risks Aurora Innovation names in Item 1A of its 10-K filed Feb 11, 2026: 66 risks under these headings, as written.19

  • Risks Related to Our Technology, Business Model and Industry
  • Self-driving technology is an emerging technology, and we face significant technical challenges to commercialize our technology. If we cannot successfully overcome those challenges or do so on a timely basis, our ability to grow our business will be negatively impacted.
  • We have incurred net losses since our inception, and we expect to incur significant expenses and may not be able to achieve, or maintain, profitability.
  • Our limited operating history makes it difficult to evaluate our future prospects and the risks and challenges we may encounter.
  • It is possible that our technology will have more limited performance or technology development and commercialization may take us longer to complete than is currently projected. This would adversely impact our addressable markets, commercial competitiveness, and business prospects.
  • We operate in a highly competitive market and some market participants have substantially greater resources. If one or more of our competitors broadly commercialize their self-driving technology before we do, develop superior technology, or are perceived to have better technology, our business prospects and financial performance would be adversely affected.
  • Our services and technology may not be accepted and adopted by the market at the pace we expect or at all.
  • We expect that our business model will become less capital intensive as we transition our business to our Driver as a Service model and if that transition is delayed or does not occur, we will require significant additional capital investment to run our business.
  • It is possible that Aurora’s self-driving unit economics do not materialize as expected, in particular as we transition to our Driver as a Service model. This could significantly hinder our ability to generate a commercially viable product and adversely affect our business prospects.
  • We are highly dependent on the services of our senior management team and, specifically, our Chief Executive Officer, and if we are not successful in retaining our senior management team and, in particular, our Chief Executive Officer, and in attracting or retaining other highly qualified personnel, we may not be able to successfully implement our business strategy.
  • Risks Related to Our Business Operations
  • Our business plans require a significant amount of capital, and if we cannot obtain additional financing when needed on acceptable terms, or at all, our business, financial condition and results of operations could be adversely affected.
The other 56 risks
  • Our estimates of our cash needs may prove inaccurate in which case we may need to raise capital sooner or change our operating plans and timelines.
  • We may experience difficulties in managing our growth and expanding our operations.
  • Our operating and financial results projections that were previously provided rely in large part upon assumptions and analyses developed by us. If these assumptions or analyses prove to be incorrect, our actual results of operations may be materially different from our previous projections and our estimates of certain financial metrics may prove inaccurate.
  • As part of growing our business, we have in the past and may in the future make acquisitions. If we fail to successfully select, execute or integrate our acquisitions, it could materially and adversely affect our business, financial condition and results of operations, and our stock price could decline.
  • Interruption or failure of Amazon Web Services or other information technology and communications systems that we rely upon could materially and adversely affect our business, financial condition and results of operations.
  • We are subject to cybersecurity risks to operational systems, security systems, infrastructure, integrated software and partners’ and end-customers’ data processed by us or third-party vendors or suppliers and any material failure, weakness, interruption, cyber event, incident or breach of security could prevent us from effectively operating our business.
  • Unauthorized control or manipulation of systems in autonomous vehicles may cause them to operate improperly or not at all, or compromise their safety and data security, which could result in loss of confidence in us and our products and harm our business.
  • Failures, or perceived failures, to comply with privacy, data protection, and cybersecurity requirements in the variety of jurisdictions in which we operate, or may operate, may adversely impact our business, and such legal requirements are evolving, uncertain and may require improvements in, or changes to, our policies and operations.
  • Issues relating to our use of artificial intelligence and machine learning technologies, combined with an uncertain legal and regulatory environment, could materially and adversely affect our business, financial condition and results of operations.
  • Our insurance coverage may not be adequate to protect us from all business risks or may be prohibitively expensive.
  • Any financial or economic crisis, or perceived threat of such a crisis, including a significant decrease in consumer confidence, could materially and adversely affect our business, financial condition and results of operations.
  • Our financial instruments, including warrants, are accounted for as liabilities and the changes in fair value could have a material effect on our financial results.
  • If we are unable to develop and maintain an effective system of internal control over financial reporting, we may not be able to accurately report our financial results in a timely manner, which may adversely affect investor confidence in us and materially and adversely affect our business and operating results.
  • Unanticipated changes in effective tax rates, adverse outcomes resulting from examination of our income, changes in tax laws or regulations, changes in our ability to utilize our net operating losses, or other tax-related changes could materially and adversely affect our business, prospects, financial condition and results of operations.
  • Our ability to utilize our net operating loss carryforwards may be limited.
  • Recent changes and currently proposed changes in tax laws could have a material adverse effect on our business, cash flow, results of operations or financial conditions.
  • Risks Related to Our Dependence on Third Parties
  • Our success is contingent on our ability to successfully maintain, manage, execute and expand on our existing partnerships and obtain new partnerships.
  • We are dependent on others for the supply of vehicles, and are also dependent on our suppliers, some of which are single or limited source suppliers, for the production, provision, and/or full lifecycle support of the current and future generations of our Aurora Driver system.
  • In certain cases, we plan to upfit, including by retaining third parties on our behalf, vehicles with the Aurora Driver and the necessary redundancies for driverless operations, and failures or delays in these activities could materially and adversely affect our business, financial condition, and results of operations.
  • Manufacturing in collaboration with partners is subject to risks.
  • Risks Related to Our Legal and Regulatory Environment
  • Burdensome regulations, inconsistent regulations, or a failure to receive regulatory approvals or exemptions for our technology could have a material adverse effect on our business, financial condition and results of operation.
  • We are subject to governmental export and import control laws and regulations and trade and economic sanctions. Our failure to comply with these laws and regulations could materially and adversely affect our business, prospects, financial condition and results of operations.
  • We may become involved in legal and regulatory proceedings and commercial or contractual disputes, which could have an adverse effect on our profitability and consolidated financial position.
  • Changes to global political, regulatory and economic conditions or foreign laws and policies, or interpretation of existing foreign laws and policies, could materially and adversely affect our business, prospects, financial condition and results of operations.
  • We are subject to, and must remain in compliance with, numerous laws and governmental regulations concerning the manufacturing, use, distribution and sale of our products. Some of our partners also require that we comply with their own unique requirements relating to these matters.
  • We are subject to environmental regulation and may incur substantial costs.
  • We are subject to anti-corruption, anti-bribery, anti-money laundering, and similar laws, and non-compliance with such laws can subject us to administrative, civil and criminal fines and penalties, collateral consequences, remedial measures and legal expenses, all of which could materially and adversely affect our business, prospects, financial condition and results of operations and also our reputation.
  • Our business may be adversely affected if our lidar technology fails to comply with the regulatory requirements under the Federal Food, Drug, and Cosmetic Act or otherwise by the FDA.
  • We may be subject to product liability that could result in significant direct or indirect costs, which could materially and adversely affect our business, prospects, financial condition and results of operations.
  • Risks Related to Our Intellectual Property Rights
  • Despite the actions we are taking to defend and protect our intellectual property rights and other proprietary interests, we may not be able to adequately protect or enforce our intellectual property rights or prevent unauthorized parties from copying or reverse engineering our solutions. Our efforts to protect and enforce our intellectual property rights and prevent third parties from violating our rights may be costly.
  • Third-party claims that we are infringing intellectual property rights, whether successful or not, could subject us to costly and time-consuming litigation or expensive licenses, and our business could be adversely affected.
  • We may need to defend ourselves against intellectual property rights infringement claims, which may be time-consuming and could cause us to incur substantial costs.
  • We rely on licenses from third parties for intellectual property rights that are critical to our business, and we would lose the rights to such intellectual property rights if those agreements were terminated or not renewed.
  • Our intellectual property rights applications for registration may not issue or be registered, which may have a material adverse effect on our ability to prevent others from commercially exploiting products similar to ours.
  • As our patents may expire and may not be extended, our patent applications may not be granted and our patent rights may be contested, circumvented, invalidated or limited in scope. In particular, we may not be able to prevent others from developing or exploiting competing technologies, which could materially and adversely affect our business, prospects, financial condition and results of operations.
  • In addition to patented technology, we rely on our unpatented proprietary technology, trade secrets, processes and know-how.
  • We may be subject to damages resulting from claims that we or our employees have wrongfully used or disclosed alleged trade secrets of our employees’ former employers.
  • Our software contains third-party open source software components, and failure to comply with the terms of the underlying open source software licenses could restrict our ability to sell our products or our use of those components give rise to disclosure obligations of proprietary software.
  • Risks Related to Ownership of Our Securities
  • We have incurred and will continue to incur significant expenses and administrative burdens as a public company, which could materially and adversely affect our business, prospects, financial condition and results of operations.
  • Our management team has limited experience in operating a public company.
  • The terms of our public warrants may be amended in a manner adverse to a holder if holders of at least 50% of the then outstanding public warrants approve of such amendment.
  • Any failure to effectively maintain controls and procedures required by Section 404 of the Sarbanes-Oxley Act could have a material adverse effect on our business.
  • Our bylaws (the “Bylaws”) designate a state or federal court located within the State of Delaware and the federal district courts of the United States as the exclusive forum for disputes between us and our stockholders, which could limit our stockholders’ ability to choose the judicial forum for disputes with us or our directors, officers or employees.
  • Charter documents and Delaware law could prevent a takeover that stockholders consider favorable and could also reduce the market price of our stock.
  • Claims for indemnification by our directors and officers may reduce our available funds to satisfy successful third-party claims against us and may reduce the amount of money available to us.
  • We do not intend to pay dividends for the foreseeable future.
  • We may be subject to securities litigation, which is expensive and could divert management’s attention.
  • Future resales of common stock may cause the market price of our securities to drop significantly, even if our business is doing well.
  • The market price and trading volume of our common stock may be volatile and could decline significantly.
  • The dual class structure of our common stock has the effect of concentrating voting control with the Aurora Founders. This will limit or preclude your ability to influence corporate matters, including the outcome of important transactions, including a change in control.
  • Our dual class structure may adversely affect the market price and liquidity of our Class A common stock.
  • The exercise of warrants for our Class A common stock would increase the number of shares eligible for future resale in the public market and result in dilution to our stockholders.
  • We may redeem unexpired public warrants prior to their exercise at a time that is disadvantageous to their holders, thereby making public warrants worthless.
  • If securities or industry analysts do not continue to publish or cease publishing research or reports about us, our business, or the market in which we operate, or if they change their recommendations regarding our securities adversely, the price and trading volume of our securities could decline.
  • Future issuances of equity or debt securities may adversely affect us, including the market price of our Class A common stock and may be dilutive to existing stockholders.
  • Our failure to meet the continued listing requirements of Nasdaq could result in a delisting of our securities.

Legal proceedings

We are from time to time subject to various claims, lawsuits and other legal and administrative proceedings arising in the ordinary course of business. However, we do not consider any such claims, lawsuits or proceedings that are currently pending, individually or in the aggregate, to be material to our business or likely to result in a material adverse effect on our future operating results, financial condition or cash flows.

The opening of Item 3, Legal Proceedings.19

Sources

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