Auri Innovation Co., Ltd. - 2025 Quarter Report

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM10-Q xQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period endedMarch31, 2025 OR oTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from _______ to _______ Commission file number001-40216 Aurora Innovation, Inc. (Exact name of registrant as specified in its charter) Delaware(State or other jurisdiction ofincorporation or organization)1654 Smallman St.,Pittsburgh,Pennsylvania(Address of Principal Executive Offices) 98-1562265(I.R.S. EmployerIdentification No.)15222 (888)583-9506 Registrant's telephone number, including area code Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports); Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smallerreporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 The registrant had outstanding1,418,704,343shares of Class A common stock and350,170,526shares of Class B common stock as ofMay1, 2025. Table of Contents Part I - Financial InformationItem 1.Financial StatementsItem 2.Management's Discussion and Analysis of Financial Condition and Results of OperationsItem 3.Quantitative and Qualitative Disclosures About Market RiskItem 4.Controls and Procedures Part II - Other Information Item 1.Legal ProceedingsItem 1A.Risk FactorsItem 2.Unregistered Sales of Equity Securities and Use of Proceeds CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q (this “Quarterly Report”) contains forward-looking statements within the meaning of thefederal securities laws, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate tofuture events or our future financial or operating performance. In some cases, you can identify forward-looking statements becausethey contain words such as “may,” “might,” “possible,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,”“project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these words or other similar •our ability to commercialize the Aurora Driver safely, quickly, and broadly on the timeline we expect; •the safety benefits of our technology and product; •the market for autonomous vehicles and our market position; •our ability to compete effectively with existing and new competitors;•the ability to maintain the listing of our Class A common stock and warrants on Nasdaq; •our ability to raise financing in the future; •anticipated trends, growth rates, and challenges in our business and in the markets in which we operate;•our ability to effectively manage our growth and future expenses;•the sufficiency of our cash and cash equivalents to meet our operating requirements;•our success in retaining or recruiting, or changes required in, our officers, key employees or directors;•the impact of the regulatory environment and complexities with compliance related to such environment;•our ability to successfully collaborate with business partners;•our business partners' ability to source materials for and manufacture vehicles for deployment of the Aurora Driver at scale;•the anticipated benefits from our relationships with our partners and customers;•our ability to obtain, maintain, protect and enforce our intellectual property;•economic and industry trends or trend analysis;•the benefits of the use of artificial intelligence in Aurora’s services or products;•the impact of infectious diseases, health epidemics and pandemics, natural disasters, war (including Russia’s actions inUkraine and the conflicts in the Middle East), acts of terrorism or responses to these events; and•other factors detailed under the section entitled "Risk Factors" in our Annual Report on Form 10-K for the fiscal year endedDecember 31, 2024 and this Quarterly Report. We caution you that the foregoing list does not contain all of the forward-looking statements made in this Quarterly Report. You should not rely upon forward-looking statements as predictions of future events. We have based the forward-lookingstatements contained in this Quarterly Report primarily on our current expectations and projections about future events and trends thatwe believe may affect our business, operating results, financial con