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Aurora Innovation Inc. (AUR-10.11%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's operations, including its focus on developing the Aurora Driver, a self-driving technology platform designed for various vehicle types and applications.
Aurora reported a net loss of $748 million for the year, compared to a net loss of $796 million in the previous year. The decrease in loss is attributed to reductions in research and development expenses and selling, general, and administrative costs.
Research and development expenses were $676 million, down from $716 million in the prior year, primarily due to decreases in non-cash stock-based compensation and hardware costs.
Selling, general, and administrative expenses decreased to $110 million from $119 million, driven by lower insurance and administrative costs.
The company recorded other income of $62 million, up from $59 million, mainly due to increased interest income from cash equivalents and investments.
Aurora's cash and cash equivalents, along with short-term investments, totaled $1,223 million as of December 31, 2024, providing liquidity to support ongoing operations and development.
The filing outlines Aurora's strategic partnerships with companies such as PACCAR, Volvo, and Toyota, which are integral to the commercialization of its self-driving technology.
Aurora plans to launch its driverless trucking service, Aurora Driver for Freight, as its first commercial product, leveraging strategic partnerships to scale operations.
The company continues to focus on its mission to deliver self-driving technology safely and broadly, with future plans to expand into passenger mobility and local goods delivery markets.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Aurora Innovation Inc. annual 10-K report dated February 14, 2025. To report an error, please email earnings@qz.com.