Earnings
Home›Earnings›Results›Aurora Innovation posts $270 million Q2 net loss as pe…
Aurora Innovation posts $270 million Q2 net loss as per-mile outlook shifts
Aurora said its transportation-as-a-service target is $2-plus per mile, while its driver-as-a-service subscription targets $0.85-plus per mile, and it plans to transition customers to DaaS starting in 2027.
Aurora Innovation reported a second-quarter net loss of $270 million on $2 million in revenue, and executives reiterated the per-mile pricing behind the two autonomous trucking business models the company is selling to carriers and shippers, according to Yahoo Finance.
Aurora Chief Financial Officer David Maday said the transportation-as-a-service, or TaaS, offering has a per-mile revenue outlook in the $2-plus-per-mile range, while its driver-as-a-service subscription targets $0.85-plus per mile. Maday said the company had previously shared both figures, and noted the “substantial difference” between the models on revenue, cost, and margin.
The company said it plans to begin moving customers from TaaS to driver-as-a-service in 2027. Under TaaS, Aurora holds a U.S. Department of Transportation operating authority, controls the truck, carries insurance, and bills a full-service rate, while under DaaS customers acquire, manage, and maintain fleets directly while subscribing to the Aurora Driver and related services.
Aurora’s loss amounted to 14 cents a share, wider than the 12-cent average of analysts’ estimates. Revenue rose 100% from $1 million a year earlier, which Aurora attributed to higher utilization, geographical expansion, and higher fuel surcharges. CEO Chris Urmson said Hirschbach Motor Lines, an anchor customer, is expected to add 500 tractors across 2027 and 2028 under the program.