Aurora Innovation Shares Tumble 27% on Wider 3Q Loss

Dow Jones10-31

By Denny Jacob

Aurora Innovation shares fell 27% Thursday after reporting a wider loss in its latest quarter.

Shares were trading around $4.84. The stock is up about 14% on the year.

The provider of automobile hardware and software as well as data services widened its loss to $208 million in the third quarter from $190 million a year earlier.

Aurora is still in its early innings. The company is preparing for commercial launch in 2025. It added that during this launch, it expects to deploy up to 10 driverless trucks in commercial operations, starting with one driverless truck and then transitioning the balance to driverless operation, according to a letter to shareholders.

Aurora also said it has raised capital in August, providing a runway into 2026, which it expects will fund the initial phase of its scaling strategy.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

October 31, 2024 11:17 ET (15:17 GMT)

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