Aurora Innovation, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 10:11 am
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Aurora Innovation, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net loss was USD 190 million compared to USD 198 million a year ago. Basic loss per share from continuing operations was USD 0.13 compared to USD 0.17 a year ago.
For the nine months, net loss was USD 604 million compared to USD 1,429 million a year ago. Basic loss per share from continuing operations was USD 0.48 compared to USD 1.26 a year ago.
Aurora Innovation, Inc. develops the Aurora Driver, which is designed as a platform to adapt and interoperate amongst a multitude of vehicle types and applications. The Company has integrated the Aurora Driver into numerous different vehicle platforms designed to meet its requirements: from passenger vehicles to light commercial vehicles to Class 8 trucks. By creating a common driver platform for multiple vehicle types and use cases. Its second core market focuses on passenger mobility, initially targeting the ride hailing space with Aurora Connect, its driverless ride hailing subscription service. The Aurora Driver will be delivered as a service via Aurora Horizon, its driverless trucking subscription service, and Aurora Connect, its driverless ride hailing subscription service. It also operates its self-driving test vehicle fleet in diverse weather and operating environments, across the Bay Area, Pittsburgh and Texas, allowing it to create a more robust self-driving system.