The company's financial position appears increasingly vulnerable, with accumulated deficits reaching -$5.2 billion and a static $617 million goodwill balance that may be subject to future impairment.
| Total Current Assets | 1.27B | 1.32B | 1.25B | 1.22B | 1.12B | 1.68B | 406.45M | 604.44M |
| Cash & Short-Term Investments | 1.23B | 1.28B | 1.22B | 1.2B | 1.1B | 1.61B | 387.35M | 596.45M |
| Cash Only | 273M | 222M | 211M | 501M | 262M | 1.61B | 387.35M | 246.49M |
| Short-Term Investments | 952M | 1.05B | 1.01B | 699M | 839M | 0 | 0 | 349.96M |
| Accounts Receivable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | - | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - |
| Other Current Assets | 47M | 41M | 31M | 17M | 17M | 67M | 182K | 182K |
| Total Non-Current Assets | 913M | 1.03B | 884M | 1.02B | 883M | 2.01B | 212.44M | 107.12M |
| Property, Plant & Equipment | 195M | 188M | 224M | 216M | 229M | 245M | 101.76M | 22.67M |
| Fixed Asset Turnover | 0.02x | 0.02x | - | - | 0.30x | 0.33x | - | 0.86x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 1.11B | 30.05M | 30.05M |
| Intangible Assets | 617M | 617M | 617M | 617M | 618M | 617M | 52.7M | 52.8M |
| Long-Term Investments | 592M | 183M | 0 | 148M | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 49M | 38M | 43M | 37M | 36M | 37M | 27.93M | 1.6M |
| Total Assets | 2.19B | 2.34B | 2.14B | 2.23B | 2B | 3.69B | 618.88M | 711.56M |
| Asset Turnover | 0.00x | 0.00x | - | - | 0.03x | 0.02x | - | 0.03x |
| Asset Growth % | 41.58% | 9.59% | -4.34% | 11.69% | -45.77% | 496.23% | -13.02% | - |
| Total Current Liabilities | 134M | 111M | 105M | 111M | 83M | 91M | 31.95M | 13.19M |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 | 6.5M | 3.03M |
| Days Payables Outstanding | - | - | - | - | - | - | 13.26 | 6.9K |
| Short-Term Debt | 12M | 11M | 16M | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 122M | 62M | 28M | 0 | 0 | 0 | 1.42M | 1.74M |
| Current Ratio | 9.49x | 11.86x | 11.94x | 10.96x | 13.47x | 18.43x | 12.72x | 45.82x |
| Quick Ratio | 9.49x | 11.86x | 11.94x | 10.96x | 13.47x | 18.43x | 12.72x | 45.82x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 87M | 92M | 158M | 139M | 134M | 257M | 100.23M | 16.78M |
| Long-Term Debt | 67M | 73M | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 266M | 73M | 105M | 107M | 123M | 135M | 97.15M | 12.95M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 20M | -54M | 53M | 32M | 11M | 122M | 3.08M | 3.83M |
| Total Liabilities | 221M | 203M | 263M | 250M | 217M | 348M | 132.18M | 29.97M |
| Total Debt | 79M | 157M | 121M | 122M | 136M | 147M | 103.83M | 17.7M |
| Net Debt | -194M | -65M | -90M | -379M | -126M | -1.46B | -283.51M | -228.79M |
| Debt / Equity | 0.04x | 0.07x | 0.06x | 0.06x | 0.08x | 0.04x | 0.21x | 0.03x |
| Debt / EBITDA | -0.09x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.21x | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | - | - | - | - | - |
| Total Equity | 1.96B | 2.14B | 1.88B | 1.99B | 1.78B | 3.34B | 486.7M | 681.59M |
| Equity Growth % | 53.65% | 14.13% | -5.54% | 11.27% | -46.62% | 586.66% | -28.59% | - |
| Book Value per Share | 1.01 | 1.16 | 1.16 | 1.50 | 1.56 | 2.98 | 0.43 | 5.57 |
| Total Shareholders' Equity | 1.96B | 2.14B | 1.88B | 1.99B | 1.78B | 3.34B | 486.7M | 681.59M |
| Common Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12K |
| Retained Earnings | -5.4B | -5.17B | -4.36B | -3.61B | -2.81B | -1.09B | -335.76M | -121.31M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 2M | 1M | 1M | -2M | 0 | 0 | 125K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity shortfall risk
According to recent quarterly filings, Aurora's cash position has declined from $501 million in 2023Q4 to $222 million in 2025Q4, signaling a rapid depletion of capital reserves as the company continues to fund its pre-commercial autonomous trucking development without a corresponding increase in recurring revenue streams.
The consistent decline in cash reserves suggests that the company's current operational model is unsustainable without external financing. Investors should monitor the widening gap between the company's asset base and its ability to generate self-sustaining cash flow, which appears to be narrowing at an accelerating pace.
Based on reported figures, Aurora's cash balance of $222 million as of 2025Q4, when measured against historical quarterly cash burn rates often exceeding $150 million, indicates a precarious liquidity buffer that may necessitate immediate capital market intervention to maintain ongoing research and development operations through the next fiscal year.
While the current ratio remains high due to the nature of the company's asset structure, this metric may be misleading as it does not account for the high fixed-cost burn rate. The rapid reduction in cash suggests that the company's liquidity position is increasingly vulnerable to any delays in commercialization milestones.
As reported in financial statements, Aurora's retained earnings have plummeted to -$5.2 billion by 2025Q4, reflecting the massive, non-recoverable investments in software and hardware development that have yet to translate into a viable, profit-generating commercial business model for the company's autonomous driving platform.
The persistent growth of the accumulated deficit highlights the extreme capital intensity of the business. This trend suggests that equity value is being heavily diluted by the necessity of funding operations through equity issuance, which warrants further investigation into the long-term viability of the current capital structure.
Based on the provided balance sheet data, Aurora carries $617 million in goodwill, a figure that has remained static for ten quarters and represents a significant portion of total assets, potentially exposing the company to future impairment risks if commercialization targets are not met as currently anticipated.
The presence of substantial goodwill suggests that past acquisitions, such as the Uber ATG deal, are being carried at historical values that may not reflect current market realities. If the company fails to achieve its commercial milestones, this asset could become a source of significant balance sheet volatility.
Quick answers to the most common questions about buying AUR stock.
As of 2025, Aurora Innovation, Inc. (AUR) had total assets of $2.34B including $1.32B in current assets.
Aurora Innovation, Inc. (AUR) carries total debt of $157.0M, offset by $1.28B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Aurora Innovation, Inc. (AUR) has total shareholders' equity (book value) of $2.14B ($1.16 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Aurora Innovation, Inc. (AUR) reported a current ratio of 11.86x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.