Thank you everyone for joining us today. Before we begin the Q&A portion of today's town hall, I want to quickly note that as you just saw at the end of the video, we will be making forward-looking statements. These statements are based on assumptions and beliefs as of today's date and are subject to risks and uncertainties that could cause actual results to differ materially. Please refer to the risk factors and other disclosures in our most recent annual report on Form 10-K and our other filings with the SEC. Now on to Q&A. First, thank you to everyone who submitted and upvoted questions. We had a tremendous turnout. We're going to extend our time together today to cover as much ground as possible. A quick note on how the segment will work. We'll be addressing the top upvoted questions submitted by our retail investor community, all of which have been anonymized. Please keep in mind, we aren't in a position to provide investment advice, and we won't be discussing our financial outlook beyond the 2026 guidance we've already provided. With that, let's dive in. Chris, Dave, the most upvoted question we received is, there has been a lot of speculation about AI leading to commoditization of autonomous drivers. How would you respond to this speculation? Do you believe Aurora has a defensible moat? Is the industry nearing an inflection point where it's nearly impossible for new competitors to enter the market? That's a great question. We're all seeing the incredible advances in AI, and we're seeing those actually help our business and help move us forward. It's important though to understand that there's a big gap between a demo you could vibe code together or the way that you can leverage AI to get part of the problem, what it takes to really solve and industrialize a safety-critical problem like what we have. Deploying our models on the road, we take the responsibility of that very seriously. I think anyone should. We're operating an 80,000-lbs vehicle, moving at 70 mi an hour down the freeway. There's a lot of things that go beyond just train a model quickly and then see what happens. Beyond that, we're actually making a physical thing. And we've invested over many years into three generations of hardware. The hardware that we had on the road initially that allowed us to prove the technology, begin operating driverlessly, do that safely. Our second generation hardware that we just launched now that allow us to scale to 1,500 units, and then our third generation hardware with AUMOVIO. That supply chain moat, the know-how that comes along with that, the ability to actually just produce hardware, I think is going to be an incredible asset for us. Of course, we also have this amazing network of customers and ecosystem that we've built around us. And each day that we're operating, as we put more trucks on the road, as we learn more with those customers, as those customers learn more about the Aurora Driver, get used to using it. That first-mover advantage and lead that we have, we think will continue to compound. It's important to note that today we are the only company running driverless trucks on the road. And every day we're doing that, we are learning. We're building trust with customers. We're building that base, and we think that that will continue to compound into an advantage, and we really see that moving forward. Do I see us having a moat? Absolutely. Do I see us continue to widen that moat? For sure. Do I think AI is an important part of how we are going to continue to build the Aurora Driver, how we operate our business? Absolutely. Absolutely. Our next question. Given the existing liquidity is sufficient to achieve positive free cash flow by 2028, when do you expect to transition away from equity dilutive financing, such as the ATM program, and incorporate non-dilutive methods, say, debt facilities or equipment financing? Thanks, Stacy, and thanks for the question. It's a great question. We're always concerned about dilutive financing and we take this impact on shareholders seriously. At the same time, we need to make sure that we have sufficient cash and runway to operate our business with the flexibility that's needed. We think we're in an amazing position right now. We have a really strong balance sheet, $1.2 billion in liquidity, which we believe will get us to a positive free cash flow in 2028. When you think about the ATM usage in the near term, really, for us, we're only planning it to, one, cover our issue tax liabilities and cash bonus payouts in 2027. Then we'll use it opportunistically like we've done before. I think for us, we have to continuously evaluate what financing mechanisms we have in place to make sure that we have an appropriate cash balance, not just to achieve positive free cash flow, but an appropriate cash balance for the long term. We're always exploring new opportunities and we're really excited about where we are today. Great. Thanks, Dave. Moving on to the next one. What's a realistic timeline for converting current pilot evaluation relationships into named binding customer announcements? Yeah. So great news is this has already happened, right? We are revenue generating with customers today. We're excited to see customers on the road making commitments. We've shared a number of customers who are operating with us, and we expect continue to grow their fleets. It's really important to understand the context of the conversation here, right? That self-driving trucks are a new thing. As we began operating them, we were really fortunate to have an incredible set of customers who are top tier, best in class in the logistics space. They're learning with us and adopting this technology. Of course, they want to see it. I was talking with Zach, who leads our BD team earlier today. Back in 2023, we'd expect it take a couple of years, right? This is just brand new. It goes through a process. They have to get comfortable with it. There really isn't other proof points out there of this working. At this point, the initial conversation often we have with a customer, and that's sending them a contract. On that contract, we're talking about driverless operation. We're excited to see this. The validation we get from our customers, these incredible partners that we have, is really helping fuel the funnel and momentum here. We're seeing a lot of demand, right? We mentioned we're already fully allocated for this year, and we continue to see demand for a Driver-as-a-Service business going forward. Absolutely. Our next question, how many Aurora Driver-equipped trucks do you expect to be fully driverless and generating commercial revenue by the end of 2026 and the end of 2027? What are the main constraints that could prevent production capacity from converting into deployed trucks? Yeah, that's a great question. For 2026, we're really excited about where we are. We expect, and again, our target was to have at least 200 trucks operating commercially, driverless on public roads, and we expect to achieve that. We're fully contracted to be able to achieve that right now. So for us, 2026, we've got clear line of sight. Importantly, one of the things that was critical is not just 2026, but do you have the capacity, do you have the partners in place to go and achieve some of our scale goals? We've talked about scaling to 1,000+ trucks in the future, right? For us, we've got our partnerships with Roush that will allow us to build 20 trucks a week by October, sometime in October timeframe. That equates to 1,000 trucks a year. We've got the Volvo partnership, where they've announced planning to have up to 300 trucks deployed by 2027. We have strong partnerships with a lot of our other partners, such as Fabrinet, who's going to supply our kits for this next year. For us, the focus is on execution and coordination, and that is what will help us ensure that we can deliver the trucks that are out there. I think Chris already talked about the strong foundation we have with the customers to have the demand side. So we're really excited about where we are today. Great. Moving down the list. You've highlighted customers planning to deploy large fleets. From a customer perspective, what is the payback period or ROI they expect when adopting the Aurora Driver compared to traditional human-operated trucks? How quickly can they onboard these units into their existing operations? Yeah. Also a really good question. There's always a little bit of a misunderstanding in terms of the ROI. For our Driver-as-a-Service business model, it's important to note that for the hardware itself, which is a key component of the Aurora Driver, customers are not buying the hardware. That's embedded in their subscription price. So they're buying a truck. They don't necessarily think about it in the traditional ROI way of, I'm spending more capital. They look at what's the value proposition. For us, it's important to talk about the fact that they care about total cost of ownership, right? In addition to all the safety benefits that we're so confident we're going to be able to deliver, we are driving real cost advantage. Whether it is labor savings, whether it is fuel cost savings that can get anywhere from 10 all the way up to 32% when we continue to optimize. We have reduced insurance overhead. Of course, we are able to double the asset utilization. A truck can run 20+ hours today. There is no hours of service limitation. For us, these are all really important elements of the business and the value proposition for customers. I think the second part of this is on the onboarding. Our focus is really seamless fleet integration. We want to make the onboarding as straightforward as possible. Obviously, we are going to target that with Hirschbach and the announcement of the 500 trucks across 2027 and 2028. Our goal is to have an autonomous truck go out the same way a regular truck goes out, with the same amount of effort, not an increased level of effort. That has been our focus. That is why we have been piloting with customers so long to really refine this element. We are excited about where we are headed. Great. Thanks, Dave. Our next question, how long does it usually take to establish a new truck lane to another city? Might you have any timetable to go to more destinations? Any color is appreciated. Yeah. This is one of the things that I am super excited about is if we look at how long it took us to roll out new lanes, we are on this just dramatically improving trajectory. The first lane obviously took us about eight years to get to. We opened our second lane in about six months, and we opened our third lane in six weeks. We continue to see that accelerating. When we look at what it takes to open a new lane, there is really two capabilities. One is we want to provide the Aurora Driver a map. It allows it to have a prior understanding of what is happening out in the world. It really increases the performance of the system. That is our ability to build those maps continues to accelerate. We just do not see that as a rate limiter going forward. The second is that the software has to be able to drive on the places in the map, right? It has to be generalized enough, and importantly, not just generalized and hope that it works, but generalized and us have certainty that it will work. As we look at the performance of the Aurora Driver now, it is very generalizable, or it is very generalized. It works a lot of places. We go through for each of these new lanes and do an assessment to make sure there's not something surprising on that lane that would put us out of the distribution that the driver is used to operating in. That safety step is critical because we could probably go one shot and run these places. That's cool. We're not really in the science kind of experiment business. We're really in the production business, and that means we want certainty, and our customers want certainty and the safety of that. So we go through this process. Overall, this is really quite a quick process for us. It's going to continue to accelerate as we put more and more automation in and the tooling for this. It's really going to be driven purely by where the customer demand is so that we can meet those customer needs. We're excited to see ourselves expanding across the Sun Belt this year and then across the rest of the United States over the coming years. I think I would just add, important to note, we're fully allocated on the 200 trucks we expect to exit the year with our current routes. Yeah. Our next question, could you address the recent pattern of insider and affiliated fund share sales filed under SEC rules? How should retail investors interpret these sales relative to management's internal view of the company's long-term valuation and upcoming commercial inflection points? Yeah. I would say, relative to management's long-term view of the company, I think it's a mistake. I'm incredibly excited about where we're going with the company. What I'd say is, I think this is something we should talk about, we want to just talk about directly. The question that comes to mind is, did they know something I don't know, right? The answer definitively is no, that this is really just a natural function of the capital cycles that are associated with these businesses. We have been blessed to have early investors that stuck with us and have been with us for the 9+ years that the company has been around. In the VC world, those funds, the way they work is they take capital from a limited partner, and they have a time horizon that they ultimately have to return that capital to the partner. What we're seeing is those early funds cycle through and cycle out. The unfortunate thing for us is that because we went public through a SPAC, there's this SEC technicality which complicates the transfer of those shares. Effectively, to return the capital, they're having to sell the shares in the market. For us, this is a normal part of the capital cycle. It's not anything indicative of the state of the business. It's really just a testament to the patience they've had with us, and the progress we've made in the company. We're incredibly thankful for the companies who've supported us and been investing with us. The other thing that we've seen out is Uber moving out of their position in Aurora. Again, this is both a natural thing and I think a good thing. Uber is not a holding company, right? They're not Berkshire Hathaway. They're not owning companies just to see the appreciation of the value. They're actually trying to put that capital to work to build their business. The management team at Uber has been transparent about needing to take the investment they made in Aurora, and use that capital to fund their somewhat fragmented approach to ensuring there is AV robotaxi players out in the market. Robotaxi is just not our business today. Again, this is a natural thing. As a shareholder of the company, a significant shareholder of the company, I'm actually quite excited to see capital that's not going to be here for the long term rotate out and get replaced with folks who are going to be holding shares. We have this incredible investor base. It's just proud to have the folks that are with us along for the ride, and excited to see that stage of capital investment be able to ride along as we continue to execute and hopefully see a lot of value creation here. Yeah. Thanks, Chris. Our next question, are you still expecting sufficient liquidity until cash flow positive in 2028? I think Dave addressed that one, so we will move to the next one. PACCAR is named as one of Aurora's partners. Where are they in developing their autonomous trucks? Yeah. PACCAR's great. It's an incredible company. It's been incredibly durable. We're proud to be a partner of PACCAR. If you follow PACCAR, one of the things you'll know is they are famously tight-lipped about timelines. They don't announce. If something might be launching 3 weeks from now, they're not going to tell you about it until it actually launches. For us, we're excited to see the progress that they're making on their autonomy-enabled truck platform. We're excited to be working with them to ultimately line side install what will be our third generation of hardware. Do that so that we can support our customers at scale. Just proud to see the progress that's happening. Unfortunately, we're going to have to honor our partners process here, and look forward to sharing more with the timelines when we can. Absolutely. Okay. Moving down the list. What is the latest update regarding the company's relationship with FedEx, and how do you anticipate that partnership evolving in the future? Yeah. Again, we're just so fortunate to have these incredible partners part of the Aurora ecosystem. FedEx is a very technology-forward company. We've been operating with them since, I think, 2021. We continue to work with them on key routes. We're excited to see where it goes with them. We expect that we can help them grow their business and support their customers. I'll look forward to sharing more as we're able to do so going forward. Great. What areas of the software still need most development to scale to 10,000 trucks? Rescue rates, efficiency metrics, complex construction, fleet management? I think right now we're very excited about the state of the Aurora Driver. It operates day and night. It operates in weather. It's operating across four states today, and we're looking to continue to expand that. We're seeing it generalize quite well. We're going to continue to be pushing on things that drive quality for our customers and reliability and availability. All of the things mentioned here will continue to improve. One of the areas that we're excited about recently is the dynamic rerouting. If the primary road is closed, we have the ability to find alternative routes nearby. We continue to expect to see improvements and increases in the kind of weather conditions we can operate in. We've shared by the end of the year, we expect to be operating in light snow and colder weather. All of that will really ultimately compound into value for our customers, and make the Aurora Driver even more useful for them. We continue to push on that. We continue to see really good progress on improving our operating efficiency, and our ability to get to a point where this will ultimately be profitable on a unit economic basis and then ultimately achieve the margins that we're aspiring towards. Yep. Great. Truck driver and investor here. I'm very keen on hearing how you were dealing with highway work zones. They tend to be very messy. For example, the lines on the road often are not drawn properly or even visible at all during heavy rain. Yeah. This is a great question. As a truck driver, you've seen the craziness, which is American highways. This is why we take safety so seriously. Again, you can throw a truck out there and have it drive with an automated system, and it'll seem to work. It'll work pretty well, then you'll come across one of these places where the cone zones and the folks who do construction on our highways work hard, they give it their best, but it is a difficult, demanding environment, and it can be confusing. This is one of the places where we've invested heavily, is making sure that we can actually interpret these scenes, where we can use a combination of cues from the geometry of the cones or barriers, the paint on the road, the shape of other. These are all cues that we're able to incorporate into how the Aurora Driver responds to it, much like a person will do in driving through these scenes. So really great question, is an incredibly challenging problem, and really proud of the progress we've been making and the capability that we have to operate through these conditions today. For sure. Our next question. You've shown an exciting roadmap for 2026 expansion. Can you provide us with a priority list for which opens first, with at least a rough timeline for expansion? Thanks for the question. Yeah, we're really excited about where we're operating today, right? We have 10 driverless routes approved today. We have 12 routes overall that are active. The last two being up and back two from Dallas over to Oklahoma City. These routes are foundational for our 2026 contracted volume allocation. We're basically going to take those 200 trucks and operate them on those areas. Obviously, we can't stop with that. We have a build plan and aspirations to grow. We will continue to front-load new routes where we can continue to offer. A lot of that'll be based on customer interest, right? Some customers want to go maybe to Memphis or to Atlanta, or we added Laredo not too long ago, and that was really strong customer demand. We'll connect some of the triangle, the Texas triangle. We're going to go where our customers want us to go. I think Chris mentioned when we're sufficiently generalized and able to go in a lot of areas, it doesn't take long to do that, and we're really going to follow the customer demand as the key component. I think when you look at the end of Q3, we're going to be operating 20- 25 trucks. End of year, 200 trucks. We'll have to have more routes, and we'll announce those routes in advance. You'll have to have more routes to scale the business in 2027. I look to where we are in 2028. When we start 2028, we're going to be operating through a large portion of the Sun Belt and even up a little bit north of that. We expect that that's going to represent about 60 billion vehicle miles traveled, including the addition of California that recently announced a process to go to driverless, and we have that permitting process. We're really excited about where we're headed. More to come. We really want to be customer focused in terms of the next priority. Great. Thanks, Dave. Our next question. You have more supply capacity than you are contracting for, even 2026. Think you have built enough muscle in sales? Thought about what's required transitioning from an R&D lab to a commercial company? Do you have the right people in place, evidence of customer benefits you claim to be transformational? Well, this is a big question, so I'll try to hit most of them. I think the one thing is, I think for 2026, our supply and demand are well matched, right? Again, we said we're going to have 200 trucks operating. That's what we have. If we had more capacity, I'm sure we can fill it, right? It's just you got to balance the supply and demand side pretty well. We are very selective in terms of how we think about partnerships and partnership strategies. It's not just about running a couple of trucks this year. It's about the ability to scale a Driver-as-a-Service business. There might be some customers that aren't as valuable in that area. So we have to segment them differently and continue to demonstrate the proof points. In terms of the transition in the team, our R&D team is great. They are going to continue to give us this outstanding leadership position in terms of technology capability, the only company that is operating driverless on public roads. The sales team, the business development teams, they are growing appropriately with where we are headed. We are adding incremental skill sets. It is not just about the sales, it is about the customer support. It is about the integration with the fleet partners. It is a little bit more than just selling the product. This one takes a little bit more integration. In terms of transformational elements, look, we would not be here today if we did not think that we are transformational in terms of safety and what we can provide the industry. I think that is really important. If you want a couple others, we have the ability to double the asset utilization. Let us say a 200-truck fleet can operate like 400 trucks operating with human drivers in terms of the service. That is very transformational. If you think about the cost structure of this industry, it is a tremendous industry. It has been around forever. They are super efficient. This is a technology unlock that can drastically change the total cost of ownership perspective, and that is what transformational technology is supposed to be able to do. We can do the cost, the safety, the efficiency, the asset utilization. There are very few technologies that can hit all of those levers, so we are really excited about where we are. Now we are going to go execute. Well said, Dave. Our next question, what are the limiting factors stopping you from kicking into the next gear and running faster now that you have real autonomous trucks? Yeah. This is exciting. If you have heard us talk, we consistently talk about crawl, walk, run. The first generation was really about crawling, making sure that we could deliver something safely road, really start to pile the value for customers, really make sure we are getting the safety right, that we are doing something, as Dave said, that is transformational, that the outside world looks at and is surprised that it exists. We want to be good stewards of that as, kind of at the vanguard of this. We are now definitely into the walking and starting to pick up our pace phase. The fact that we are going to go from a handful of trucks to 200+ trucks on the road at the end of the year, that is a big deal. It is kind of exponential scaling. We expect that next year to take another large step in the number of vehicles we have on the road. We are very excited about this. You are going to see us continue to accelerate. I do not think there is anything to stop us from accelerating. This is a deliberate pace we put in, we are executing at. We are excited about it. We are excited about the ramp that is coming, and we will look forward to continue to build the business responsibly and create a lot of value here. Sure. Moving down the list, our next one. How do you cope with difficult-to-detect conditions such as flooded roads and black ice? Yeah. This is a great question. Again, this is where you do not get to just YOLO it. We take the process of putting these vehicles on the road really seriously. We have a whole systems engineering function, whose job it is, along with our engineering teams, to think about, okay, here are the challenges that the vehicle could face on the road. Here is how the nominal system responds to it, and then what are the mitigations or additional safety features we put in place around that. For our system, when it is driving down the road, it is constantly monitoring conditions. If it gets into a condition where it is starting to feel, kind of to humanize it, uncomfortable, then it will take an appropriate response. That may be it will slow down to 55 mi an hour from 65 or 75. It may be that if it is appropriate, it will pull off the road, to find a safe haven and let weather pass if it is a particularly heavy storm or something like that. Or it may be in really particularly bad conditions, it may be pull to the shoulder and stop. You blow out a tire, that is what it is going to do. The ability for the system to understand the environment around it, respond appropriately, and make sure we have done our work upfront to identify hazards so that we can respond is key to the whole process. Great. Moving down the list. Will Volvo trucks be solely equipped with your hardware? We see that they are also working with other virtual driver competitors. Yeah. Volvo, again, another great company, proud to be a partner of. They've shared that they expect to be operating driverlessly in Q1 of 2027. Then they're going to build to a few hundred driverless trucks, 300+ driverless trucks next year. We're excited to be the launch partner with them on that. We're looking forward to having our driverless trucks on the road. We don't necessarily expect this to be a winner-take-all market, but we do expect a winner take most, and we feel pretty darn good about our position in that race. Great. And our next one. Hi, Chris and David. Thanks for doing this. Hey. Since launching driverless operations, are partners seeing cost savings or other business benefits, and what's the most encouraging feedback? Looking ahead 12 months, what do you think long-term Aurora investors should be most excited about, and why? Thanks. Yeah. Thanks. Great question. I think the strongest feedback we get is that they want more. You can use a lot of platitudes, you can talk about the elements of it. But at the end of the day, our customers are coming back and saying, "Yes, we'd like to grow the fleet that we're operating with you and ultimately own and operate these assets." So we think that's really exciting. The pipeline is strong, and the customer interest. We actually have more demand than we can supply this year, which is exciting as a company, an exciting place to be. And what we see is this multiplicative factor, right? That as we are able to bring exciting customers, some of the luminaries in the field into the fold to be customers of ours, that begets more interest. There's a lot of, "Hey, that company that I respect thinks this is a useful product. I should check that out." We end up having those conversations, and the flywheel accelerates. So really just excited to see the investment that the team has made here in time and the investment that our investment partners have made with us start to translate into real value to customers and ultimately value to the company. Great. Switching gears a bit here, more of a technical question. What gives you confidence in the simulator accuracy so that Aurora can handle correctly and timely in edge cases, such as a pedestrian getting thrown onto by another vehicle, or a multi-vehicle pileup on icy freeway, or police highway chase in wrong lanes, the crucial factor when scaling operation? Yeah, this is a great question, really insightful. A simulator by itself is just a video game. That it's pretty pictures and some physics. To actually get to the point where you can trust that simulator and ultimately use it as part of the evidence we use to close our safety case, we actually have to ground it, which means going out and gathering an equivalent scene in the real world and one in the simulation and confirming that at each level of fidelity that matters, that we're matching. We have a process internally, we call, I think it's the star process, where we'll go through and ensure that our simulator is actually fit for purpose for whatever the test we're going to run is. And this is not just an academic exercise. We've actually at times found like, hey, there's a gap between what we expected at what we saw in simulation and what we see at the track. That creates an engineering iteration loop for us to go and figure out, okay, why is that? Is it something in the simulator? Has something the way the systems are plugged together? We can then iterate, and then ultimately we can close that out and say, "Okay, now we're convinced that this works." An example this was for us with a very, this is several years ago now. But with a very high-speed motorbike crossing the road in front of the Aurora Driver and blowing through a traffic light. We observed that the perception system didn't track that cyclist in simulation the same way that it did in the real world. We were able to take that, go figure out that actually, yes, the thing that we found in simulation was actually something we need to work on in the perception system. But there was also an issue with the way the simulator's working. By closing that loop, we get to a point where we have conviction that, yes, the simulator serves these purposes. For other purposes, we have to go and do track testing, or we'll go and use real-world data from other sources to get conviction in the performance of the system. We have this massive test volume that comes out of this. Ultimately, the processes that we use, we have review to go through to make sure we have conviction these things actually are valuable and work. Great. Another bit of a technical question here. How does Aurora handle sudden extreme weather events that exceed the Aurora Driver's operational design domain? Specifically, what protocols are in place to balance safety with delivery reliability being on time when trucks must execute minimal risk maneuvers or pull over during unexpected conditions? Yeah, another great insightful question here. First, if you ask any of our customers, it's not a balance safety with on-time delivery, it's safety first. Right? We take that philosophy here as well. That is the priority, and we put that ahead of time. This idea of being out of ODD, it turns out once the truck is on the road, you have to deal with what's there. Now, it may be that you deal with it by minimizing the time that you're in that condition and get off the road, as we talked about earlier, much like a regular truck driver does. Right? If you are in monsoon rain in Arizona, as a truck driver, there's a point where it's so bad you pull to the side of the road or you find a way on a run-up pass to get off the road because it is just too difficult when you're driving. We handle that the same way with the Aurora Driver. We also do proactive avoidance. Part of the Aurora services layer is this command center where we are monitoring real-time conditions. If we notice this particular, if there's a hurricane or there's particularly bad pattern of weather, we're able to actually proactively avoid encountering that condition, have the vehicle wait it out, and then continue to on its way. One of the advantages that maybe is not obvious here is that because the Aurora Driver doesn't have an hours of service limitation, it's actually okay for it to wait it out. It doesn't have to double down and white-knuckle it through the weather because otherwise it's not going to get where it needs to go before it gets to a hotel or is able to sleep at a truck stop. It can just patiently wait, let the weather pass, and then get on its way. Again, given that for our customers, it is safety first and then everything else after that. This is something that we feel very confident in. Great. Our next one's back to more of a business focus. As Aurora expands from its initial launch lanes, what do you believe will be the biggest bottleneck to scaling from hundreds of autonomous trucks to thousands? Is it hardware production, carrier adoption, OEM manufacturing capacity, regulatory approvals, or something else? Yeah. It's also a really good question. I think if you look at the demand side and the regulatory side, we really don't see those as bottlenecks today. I think we've talked a lot about the demand and the value that we can create, and the interest that continues to come. We're pretty excited about that. Again, looking at some of the value proposition things we have, like the 2X utilization and the lower cost. I think the regulatory landscape is very favorable right now. If you look at the existing laws and regulations that are on the books, we can apply or operate autonomously in the vast majority of the U.S. today. The momentum, at least at this point, has been pretty favorable for autonomous technology adoption. We're excited about that. Certainly, in the past and even today, we have to manage the capacity side of the situation, right? We're building our second-generation hardware set that we've just launched. We had to utilize a partner, Fabrinet. They're a leading contract manufacturer, so they're going to build our second-generation kit. Then I think you all know that we partnered with AUMOVIO. They're a leading Tier 1 partner to build, design, engineer, manufacture, even finance, and service our third-generation hardware kit. We're super excited about that. We have mutually aligned incentives with them. There's always an element where you have to balance that capacity and make sure and address the key issues. What's great about our third gen with AUMOVIO is they're way better equipped to handle supply disruptions than we are today, right? They're just a more capable company. They've got a couple of thousand purchasing and supply chain folks, and that's more than our company today. We have a really solid partner. I think, the other thing we have to match is we have to match the demand coming in from the kits with the OEM supply of trucks, right? In the past, this has been our primary constraint, but we've been working with our partners to try to eliminate and make that not a constraint anymore, but just continue to make that an advantage of the overall business. Again, Volvo is going to be launching next year. We have a really strong partnership with PACCAR. We have really good supply of trucks from International. We're really managing those. It's really the capacity that we have to manage the most from a constraint perspective. Great. Thanks, Dave. With the 200-truck capacity for 2026 fully allocated, what level of commercial demand or pre-orders are you seeing from major enterprise carriers for the 2027 to 2028 DaaS rollout, DaaS being Driver-as-a-Service? Are Tier 1 carriers ready to commit to multi-hundred-unit fleets once driverless operations are proven at scale? Yeah. Well, for sure. Hirschbach is a pretty good example of this, right? They've outlined plans to purchase 500 Aurora Driver trucks starting in 2027 and 2028 in the DaaS business model. That's one example. We are working, as I mentioned before, every partner that we select is with an eye towards the Driver-as-a-Service business. It's not just a pilot or getting a couple of trucks. It's always with the long-term plan in mind. We're actively negotiating for additional Driver-as-a-Service commitments today, and we'll be excited to share those in the future. These are large enterprise customers, so we're really excited about where we're headed. Excellent. Okay. This is a bit of a logistical one. I'm looking for more logistical information. Does the truck back into docks without human intervention? Who fuels up the vehicles between stops? Who performs DOT inspections? Has AI and onboard centers replaced manual inspections? Do these vehicles bypass weigh stations? Yeah. Another great question. Today, we're really focused on doing the core driving tasks. This is where the biggest value is for our customers. So leaving a customer gate, getting down the road, getting to the customer destination and delivering the goods there. That's really where the biggest value unlock is for customer. That's the thing that we want to do. We're really focused on drop and hook type operations. So we're not backing into docks today. Ultimately, we'll do that. Driving around a yard at low speed is something we can take on and we don't see as particularly complicated or difficult to add. It's just not the core focus of the value to our customers. When you're in the yard, there's other things that people have to do. Today, of course, the most obvious one is just connecting the air hoses. Right? That's a human thing that we're not putting robot arms on the truck to do or anything like that. So, there's definitely these human-in-the-loop touchpoints. If I just go through the elements here, so who fuels up the truck? We're actively running tests to try and find ways to work with existing infrastructure. So partners that have truck stops on the way where the Aurora Driver can drive up, notify ahead of time so that the attendant knows it's coming, pull in, have it get fueled, gets sent on its way. To be able to leverage the infrastructure that exists and to build that, and continue to help and accelerate those businesses ultimately over time. Inspection, that's something that of course, we need a person to do. There's things where you have to go and look and touch parts of the vehicles. That'll be part of one of the roles that'll happen at the customer sites is our expectation. Then, we're able to bypass certain weigh stations just like people driving trucks are today. We're also working with law enforcement to be able to transit through weigh stations when required to do so by the authorities. We'll continue to find ways to meet the world where it is today and integrate the Aurora Driver in a way that is seamless and useful for our customers. Great. I think we addressed this one a bit before, but if there's any other detail you want to provide, what is Aurora doing to address potentially driving in heavy snow? It seems snow is going to be a major bottleneck for northern expansion. Trucks have to run year-round. Yeah, absolutely. Today, of course, we're operating in the southern states, and part of the reason to do that is the weather is better. There's this mythology that driving in heavy snow is going to be this whole other thing, and it isn't, right? The reason why we operate in good conditions today is because that way we don't have to boil the whole technical ocean to solve all of the problems. We can actually create value for customers in the near term. When we think about operating through snow, it's comparable to operating through dust or operating through heavy rain, right? It just happens to be white and more flaky. This is where we think things like our multimodal sensor technology, the combination of lidar, radar, and camera gives us a huge advantage. This is where things like our proprietary FMCW FirstLight technology allows us to be able to penetrate through and differentiate falling snow from physical things in the world. We can do clever things with looking at the traction response of the vehicle. There's work we need to do here, but like I said, we expect to be operating in light snow later this year. Then we'll find the right time to introduce operating in heavy snow in the coming period of years. Great. We have time for one more. Our final question for today, it has been partially addressed, but partially not, how and where are Aurora trucks refueled during a highway run? Who fixes a flat tire or motor, et cetera, issue on highway? Yeah. Another great question. First, it is important to realize, those of us who are not around trucks a lot, they have gigantic fuel tanks, 1,000+ mi range, so they can go a long way. This is not like my normal car road trip kind of experience. First there is that. Some of our customers will fuel on site because they see benefits to that. As I mentioned, we are working with partners to figure out how we can actually have the truck pull into truck stops and use fueling infrastructure that already exists. In terms of fixing a flat tire or an engine issue, this is going to look just the same as it does today, right? If a truck breaks down on the road today, they are going to call their service support. Someone like Ryder, who we are working with today, will come out and bring a technician who can potentially change the tire, more likely than not, and tow the vehicle to a place to get a repair. Again, one of our approaches to building the business is to really work in partnership with other great companies. Then to work with the world the way it is today and really fit into this infrastructure. That has a lot of benefits. It reduces the complexity of what we have to do. It also allows that seamless integration that our customers and partners are looking for to allow us to build the business quickly and get out there and serve as many customers as possible. Great. Thanks everyone for joining us today and for the incredibly thoughtful questions. We hope you found this town hall valuable. We would also encourage you to tune in to our Analyst and Investor Day next month on September 23rd. We will be announcing more details on that very soon. We hope you have a great rest of your day.