Aurora Innovation (AUR) 10-Q 3 May 23 2023 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2023	Apr. 26, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-40216
Entity Registrant Name	Aurora Innovation, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	98-1562265
Entity Address, Address Line One	1654 Smallman St.
Entity Address, City or Town	Pittsburgh
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	15222
City Area Code	888
Local Phone Number	583-9506
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Central Index Key	0001828108
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Class A
Document Information [Line Items]
Title of 12(b) Security	Class A common stock, par value $0.00001 per share
Trading Symbol	AUR
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		771,386,433
Warrant
Document Information [Line Items]
Title of 12(b) Security	Redeemable warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50
Trading Symbol	AUROW
Security Exchange Name	NASDAQ
Common Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		409,026,834

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 175	$ 262
Short-term investments	791	839
Other current assets	14	17
Total current assets	980	1,118
Property and equipment, net	88	91
Operating lease right-of-use assets	139	138
Acquisition related intangible assets	618	618
Other assets	42	36
Total assets	1,867	2,001
Current liabilities:
Operating lease liabilities, current	15	13
Other current liabilities	88	70
Total current liabilities	103	83
Operating lease liabilities, long-term	122	123
Derivative liabilities	6	4
Other liabilities	7	7
Total liabilities	238	217
Commitments and contingencies
Stockholders’ equity:
Common stock - $0.00001 par value, 51,000 shares authorized, 1,175 and 1,166 shares issued and outstanding, respectively	0	0
Additional paid-in capital	4,640	4,600
Accumulated other comprehensive loss	(1)	(2)
Accumulated deficit	(3,010)	(2,814)
Total stockholders’ equity	1,629	1,784
Total liabilities and stockholders’ equity	$ 1,867	$ 2,001

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - $ / shares shares in Millions	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value (in usd per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	51,000	51,000
Common stock, shares issued (in shares)	1,175
Common stock, shares outstanding (in shares)		1,166

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Collaboration revenue	$ 0	$ 42
Operating expenses:
Research and development	177	154
Selling, general and administrative	31	31
Total operating expenses	208	185
Loss from operations	(208)	(143)
Other income (expense):
Change in fair value of derivative liabilities	(2)	66
Other income, net	14	0
Loss before income taxes	(196)	(77)
Income tax expense	0	0
Net loss	$ (196)	$ (77)
Basic net loss per share (in usd per share)	$ (0.17)	$ (0.07)
Diluted net loss per share (in usd per share)	$ (0.17)	$ (0.07)
Basic weighted-average shares outstanding (in shares)	1,170	1,126
Diluted weighted-average shares outstanding (in shares)	1,170	1,126

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss (unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (196)	$ (77)
Other comprehensive income (loss):
Unrealized gain (loss) on investments	1	(1)
Other comprehensive income (loss)	1	(1)
Comprehensive loss	$ (195)	$ (78)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders’ Equity (unaudited) - USD ($) shares in Millions, $ in Millions	Total	Common stock	Additional paid-in capital	Accumulated other comprehensive loss	Accumulated deficit
Beginning balance (in shares) at Dec. 31, 2021		1,123
Beginning balance at Dec. 31, 2021	$ 3,342	$ 0	$ 4,433	$ 0	$ (1,091)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity issued under incentive compensation plans (in shares)		5
Equity issued under incentive compensation plans	2		2
Stock-based compensation	29		29
Comprehensive loss	(78)			(1)	(77)
Ending balance (in shares) at Mar. 31, 2022		1,128
Ending balance at Mar. 31, 2022	$ 3,295	$ 0	4,464	(1)	(1,168)
Beginning balance (in shares) at Dec. 31, 2022	1,166	1,166
Beginning balance at Dec. 31, 2022	$ 1,784	$ 0	4,600	(2)	(2,814)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity issued under incentive compensation plans (in shares)		9
Equity issued under incentive compensation plans	1		1
Stock-based compensation	39		39
Comprehensive loss	(195)			1	(196)
Ending balance (in shares) at Mar. 31, 2023		1,175
Ending balance at Mar. 31, 2023	$ 1,629	$ 0	$ 4,640	$ (1)	$ (3,010)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities
Net loss	$ (196)	$ (77)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	5	6
Reduction in the carrying amount of right-of-use assets	7	7
Stock-based compensation	39	29
Change in fair value of derivative liabilities	2	(66)
Other operating activities	(7)	0
Changes in operating assets and liabilities:
Other current and non-current assets	2	16
Operating lease liabilities	(6)	(6)
Other current and non-current liabilities	18	(45)
Net cash used in operating activities	(136)	(136)
Cash flows from investing activities
Purchases of property and equipment	(2)	(5)
Purchases of short-term investments	(247)	(966)
Maturities of short-term investments	303	0
Net cash provided by (used in) investing activities	54	(971)
Cash flows from financing activities
Proceeds from issuance of common stock	1	2
Other financing activities	(1)	0
Net cash provided by financing activities	0	2
Net decrease in cash, cash equivalents, and restricted cash	(82)	(1,105)
Cash, cash equivalents, and restricted cash at beginning of the period	277	1,626
Cash, cash equivalents, and restricted cash at end of the period	$ 195	$ 521

Overview of the Organization

Overview of the Organization	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Overview of the Organization	Overview of the OrganizationAurora Innovation, Inc. (the “Company” or “Aurora”) is headquartered in Pittsburgh, Pennsylvania and its mission is to deliver the benefits of self-driving technology safely, quickly, and broadly. The Company is developing the Aurora Driver, an advanced and scalable suite of self-driving hardware, software and data services designed as a platform to adapt and interoperate amongst vehicle types and applications.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The unaudited condensed consolidated financial statements include the accounts of the Company and its controlled subsidiaries. Intercompany balances and transactions between the Company and its controlled subsidiaries have been eliminated. The preparation of these unaudited condensed consolidated financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported. Actual results could differ from those estimates. The information included herein should be read in conjunction with the Annual Report on Form 10-K for the year ended December 31, 2022. The condensed consolidated balance sheet as of December 31, 2022 included herein was derived from the audited financial statements as of that date but does not contain all of the footnote disclosures from the annual financial statements. The unaudited condensed consolidated financial statements reflect, in the opinion of the Company, all adjustments of a normal, recurring nature necessary for a fair statement of our financial position, results of operations, and cash flows for the periods presented but are not necessarily indicative of the expected results for the full fiscal year or any future period. Certain Risks and Uncertainties The Company’s operations are principally funded by available liquidity from cash, cash equivalents and short-term investments. Management expects to continue to incur operating losses and that the Company will need to opportunistically raise additional capital to support the continued development and commercialization of the Aurora Driver. Management believes that cash on hand and short-term investments will be sufficient to meet its working capital and capital expenditure requirements for a period of at least twelve months from the date of these financial statements. Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of cash, cash equivalents and short-term investments. The Company primarily maintains its cash and cash equivalents at U.S. commercial banks, while its short-term investments primarily consist of U.S. Treasury securities. Cash and cash equivalents deposited with domestic commercial banks generally exceed the Federal Deposit Insurance Corporation insurable limit, though the Company has not experienced any credit losses on its deposits.

Cash, Cash Equivalents and Shor

Cash, Cash Equivalents and Short-Term Investments	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash, Cash Equivalents, and Short-Term Investments	Cash, Cash Equivalents and Short-Term Investments Cash, cash equivalents and restricted cash were as follows (in millions): As of March 31, December 31, Cash and cash equivalents $ 175 $ 262 Restricted cash, long-term (a) 20 15 Total cash, cash equivalents and restricted cash $ 195 $ 277 (a) Included in Other assets on the consolidated balance sheets The components of cash equivalents and short-term investments measured at fair value on a recurring basis were as follows (in millions): As of Fair value level March 31, December 31, Cash equivalents: Money market funds Level 1 $ 149 $ 204 U.S. Treasury securities Level 2 25 57 Total cash equivalents $ 174 $ 261 Short-term investments: U.S. Treasury securities Level 2 $ 791 $ 839 Total short-term investments $ 791 $ 839 The amortized cost, unrealized gains and losses, and fair value of available-for-sale debt securities were as follows (in millions): As of March 31, 2023 Amortized cost Unrealized losses Fair value U.S. Treasury securities $ 792 $ (1) $ 791 As of December 31, 2022 Amortized cost Unrealized losses Fair value U.S. Treasury securities $ 841 $ (2) $ 839

Collaboration Revenue

Collaboration Revenue	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Collaboration Revenue	Collaboration RevenueThe Company received payments of $48 million under the collaboration project plan with Toyota and recognized collaboration revenue of $42 million during the three months ended March 31, 2022. As of December 31, 2022, the Company had recognized all revenue associated with cash payments received under the collaboration project plan with Toyota and, in turn, no revenue was recognized during the three months ended March 31, 2023

Stockholders_ Equity

Stockholders’ Equity	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Stockholders’ Equity	Stockholders' Equity Preferred Stock The Company is authorized to issue 1,000 million shares of preferred stock with a par value of $0.00001 per share. There were no shares of preferred stock issued and outstanding at March 31, 2023 and December 31, 2022. Common Stock The Company is authorized to issue 51,000 million shares of common stock with a par value of $0.00001 per share; of which 50,000 million shares are designated Class A common stock and 1,000 million shares are designated Class B common stock. Class A common stock holders are entitled to one vote for each share and Class B common stock holders are entitled to ten votes for each share. Class A and Class B have identical liquidation and dividend rights. Class B shares are convertible into Class A upon election by the holder or upon transfer (except for certain permitted transfers). The Company had 766 million and 754 million shares of Class A common stock issued and outstanding at March 31, 2023 and December 31, 2022, respectively. The Company had 409 million and 412 million shares of Class B common stock issued and outstanding at March 31, 2023 and December 31, 2022, respectively.

Equity Incentive Plans

Equity Incentive Plans	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Equity Incentive Plans	Equity Incentive Plans The Company has outstanding awards granted under four equity compensation plans: the 2021 Equity Incentive Plan (the “Plan”), the Aurora Innovation, Inc. 2017 Equity Incentive Plan (the “2017 Plan”), the Blackmore Sensors & Analytics, Inc. 2016 Equity Incentive Plan (the “Blackmore Plan”), and the OURS Technology Inc 2016 Stock Incentive Plan (the “OURS Plan”). The Company assumed awards under the 2017 Plan, the Blackmore Plan and the OURS Plan to the extent such employees continued as employees of the Company. Under the Plan, equity-based compensation in the form of RSUs, restricted stock awards, incentive stock options, nonqualified stock options, stock appreciation rights, and performance units may be granted to employees, officers, directors, consultants, and others. As of March 31, 2023, there were 69 million shares available for grant under the Plan. Stock-based Compensation Expense Stock-based compensation is allocated on a departmental basis, based on the classification of the option holder or grant recipient. No income tax benefits have been recognized in the statement of operations for stock-based compensation arrangements and no stock-based compensation has been capitalized as of March 31, 2023. Total stock-based compensation expense by function was as follows (in millions): Three Months Ended 2023 2022 Research and development $ 34 $ 26 Selling, general, and administrative 5 3 Total $ 39 $ 29 Restricted Stock Units RSUs granted under the 2017 Plan generally are subject to two vesting requirements: (1) a time-based vesting requirement, and (2) a liquidity event. Generally, the time-based vesting requirement is quarterly over four years starting on the vesting commencement date, with a one-year cliff. The liquidity event vesting requirement was satisfied prior to the periods presented. RSUs granted under the Plan generally are subject to a time-based vesting requirement. Generally, the time-based vesting requirement is quarterly over one RSU activity under the Plan and the 2017 Plan was as follows (in millions, except per share amounts): Number of Weighted- Unvested at December 31, 2022 103 $ 3.70 Granted 38 1.42 Vested (7) 4.40 Forfeited (5) 3.51 Unvested at March 31, 2023 129 $ 3.00 The unrecognized stock-based compensation related to unvested RSUs was $314 million at March 31, 2023 and will be recognized over a weighted average period of 2.6 years. The fair value of RSUs as of their respective vesting dates was $13 million for the three months ended March 31, 2023. Stock Options The exercise price of stock options granted under the Plan and the 2017 Plan may not be less than 100% of the fair value of the Company’s common stock on the date of the grant. Stock options generally vest over one No stock options were granted during the three months ended March 31, 2022. Stock options granted under the Plan and the 2017 Plan during the three months ended March 31, 2023 were as follows: Three Months Ended Stock options granted (in millions) 37 Weighted average grant date fair value $ 0.79 Weighted average grant date fair value assumptions: Expected term 5.7 years Risk-free interest rates 4.5 % Expected volatility 55.0 % Stock option activity under the Plan and the 2017 Plan was as follows (in millions, except per share amounts): Number of Weighted Weighted average remaining contractual term (in years) Aggregate intrinsic value Outstanding at December 31, 2022 63 $ 1.76 Granted 37 1.42 Exercised (2) 0.45 Forfeited (1) 2.49 Expired — 2.51 Outstanding at March 31, 2023 97 $ 1.64 7.9 $ 15 Exercisable at March 31, 2023 44 $ 1.45 6.1 $ 15 The unrecognized stock-based compensation related to unvested stock options was $45 million as of March 31, 2023 and will be recognized over a weighted average period of 2.2 years. The intrinsic value of stock options exercised was $2 million for the three months ended March 31, 2023.

Derivative Liabilities

Derivative Liabilities	3 Months Ended
	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Liabilities	Derivative Liabilities The components of derivative liabilities measured at fair value on a recurring basis were as follows (in millions): As of Fair value level March 31, December 31, Public warrants Level 1 $ 2 $ 2 Private placement warrants Level 2 2 1 Common stock warrants 4 3 Earnout share liabilities Level 3 2 1 Total derivative liabilities $ 6 $ 4 The public and private placement warrants are measured at fair value on a recurring basis. The public warrants were valued based on the closing price of the publicly traded instrument. The private placement warrants were valued using observable inputs for similar publicly traded instruments. Public warrants outstanding were 12 million as of March 31, 2023 and December 31, 2022. Private placement warrants outstanding were 9 million as of March 31, 2023 and December 31, 2022. The earnout share liabilities are measured at fair value on a recurring basis utilizing a Monte Carlo simulation analysis. The expected volatility is determined based on the historical equity volatility of comparable companies over a period that matches the expected term of the instrument. The risk-free interest rate is based on relevant U.S. treasury rates for a period that matches the expected term of the instrument. Earnout shares outstanding were 5 million as of March 31, 2023 and December 31, 2022. The components of change in fair value of derivative liabilities were as follows (in millions): Three Months Ended March 31, 2023 2022 Change in fair value of derivative liabilities: Common stock warrants $ (1) $ 35 Earnout share liabilities (1) 31 Total change in fair value of derivative liabilities $ (2) $ 66

Leases

Leases	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Leases	Leases The Company leases its office facilities, data center, and warehouses under non-cancelable operating lease agreements that expire through 2042, including renewal options that are reasonably certain to be exercised. Rent expense under operating leases was $7 million and $7 million in three months ended March 31, 2023 and 2022, respectively. As of March 31, 2023, the Company’s operating leases had a weighted average remaining lease term of 8.5 years and a weighted average discount rate of 6.8%. Future lease payments for leases that have not yet commenced were $32 million as of March 31, 2023. Lease commencement will occur once the lessor substantially completes construction to make the underlying asset available for use.

Balance Sheet Details

Balance Sheet Details	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Balance Sheet Details	Balance Sheet Details Property and Equipment, Net The components of property and equipment, net were as follows (in millions): As of March 31, December 31, Land $ 14 $ 14 Buildings and Leasehold improvements 71 70 Equipment 24 24 Vehicles 8 7 Other 15 15 132 130 Less accumulated depreciation and amortization (44) (39) Total property and equipment, net $ 88 $ 91 Other Current Liabilities The components of other current liabilities were as follows (in millions): As of March 31, December 31, Accrued compensation $ 65 $ 52 Other accrued expenses 23 18 Total accrued expenses and other current liabilities $ 88 $ 70

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The Company computes earnings per share of common stock using the two-class method required for participating securities. The participating securities did not impact the computation of earnings per share in the periods presented as no dividends were declared and the participating securities are not contractually obligated to share in losses. The Company has two classes of common stock with identical liquidation and dividend rights, Class A and Class B. The net loss is allocated in a proportionate basis to each class of common stock and results in the same net loss per share. The following table presents the potential common stock outstanding excluded from the computation of diluted loss per share because including them would have had an antidilutive effect (in millions): As of March 31, March 31, RSUs 129 67 Stock options 98 77 Public warrants 12 12 Private placement warrants 9 9 Earnout shares liability 5 5 Total 253 170

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesFrom time to time the Company may be party to various claims in the normal course of business. Legal fees and other costs associated with such actions are expensed as incurred. The Company assesses the need to record a liability for litigation and loss contingencies. Reserve estimates are recorded when and if it is determined that a loss related to certain matters is both probable and reasonably estimable. No material loss contingencies were recorded in the three months ended March 31, 2023 and 2022.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited condensed consolidated financial statements include the accounts of the Company and its controlled subsidiaries. Intercompany balances and transactions between the Company and its controlled subsidiaries have been eliminated. The preparation of these unaudited condensed consolidated financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported. Actual results could differ from those estimates.
Principles of Consolidation	The information included herein should be read in conjunction with the Annual Report on Form 10-K for the year ended December 31, 2022. The condensed consolidated balance sheet as of December 31, 2022 included herein was derived from the audited financial statements as of that date but does not contain all of the footnote disclosures from the annual financial statements. The unaudited condensed consolidated financial statements reflect, in the opinion of the Company, all adjustments of a normal, recurring nature necessary for a fair statement of our financial position, results of operations, and cash flows for the periods presented but are not necessarily indicative of the expected results for the full fiscal year or any future period.
Certain Risks and Uncertainties	Certain Risks and Uncertainties The Company’s operations are principally funded by available liquidity from cash, cash equivalents and short-term investments. Management expects to continue to incur operating losses and that the Company will need to opportunistically raise additional capital to support the continued development and commercialization of the Aurora Driver. Management believes that cash on hand and short-term investments will be sufficient to meet its working capital and capital expenditure requirements for a period of at least twelve months from the date of these financial statements. Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of cash, cash equivalents and short-term investments. The Company primarily maintains its cash and cash equivalents at U.S. commercial banks, while its short-term investments primarily consist of U.S. Treasury securities. Cash and cash equivalents deposited with domestic commercial banks generally exceed the Federal Deposit Insurance Corporation insurable limit, though the Company has not experienced any credit losses on its deposits.

Cash, Cash Equivalents and Sh_2

Cash, Cash Equivalents and Short-Term Investments (Tables)	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Cash, Cash Equivalents and Restricted Cash	Cash, cash equivalents and restricted cash were as follows (in millions): As of March 31, December 31, Cash and cash equivalents $ 175 $ 262 Restricted cash, long-term (a) 20 15 Total cash, cash equivalents and restricted cash $ 195 $ 277 (a) Included in Other assets on the consolidated balance sheets
Schedule of Cash, Cash Equivalents and Restricted Cash	Cash, cash equivalents and restricted cash were as follows (in millions): As of March 31, December 31, Cash and cash equivalents $ 175 $ 262 Restricted cash, long-term (a) 20 15 Total cash, cash equivalents and restricted cash $ 195 $ 277 (a) Included in Other assets on the consolidated balance sheets
Schedule of Fair Value, Assets Measured on Recurring Basis	The components of cash equivalents and short-term investments measured at fair value on a recurring basis were as follows (in millions): As of Fair value level March 31, December 31, Cash equivalents: Money market funds Level 1 $ 149 $ 204 U.S. Treasury securities Level 2 25 57 Total cash equivalents $ 174 $ 261 Short-term investments: U.S. Treasury securities Level 2 $ 791 $ 839 Total short-term investments $ 791 $ 839
Schedule of U.S Treasury Securities , Amortized Costs and Fair Value	The amortized cost, unrealized gains and losses, and fair value of available-for-sale debt securities were as follows (in millions): As of March 31, 2023 Amortized cost Unrealized losses Fair value U.S. Treasury securities $ 792 $ (1) $ 791 As of December 31, 2022 Amortized cost Unrealized losses Fair value U.S. Treasury securities $ 841 $ (2) $ 839

Equity Incentive Plans (Tables)

Equity Incentive Plans (Tables)	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Stock-Based Compensation Expense	Total stock-based compensation expense by function was as follows (in millions): Three Months Ended 2023 2022 Research and development $ 34 $ 26 Selling, general, and administrative 5 3 Total $ 39 $ 29
Schedule of Restricted Stock Unit Activity	RSU activity under the Plan and the 2017 Plan was as follows (in millions, except per share amounts): Number of Weighted- Unvested at December 31, 2022 103 $ 3.70 Granted 38 1.42 Vested (7) 4.40 Forfeited (5) 3.51 Unvested at March 31, 2023 129 $ 3.00
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions	Stock options granted under the Plan and the 2017 Plan during the three months ended March 31, 2023 were as follows: Three Months Ended Stock options granted (in millions) 37 Weighted average grant date fair value $ 0.79 Weighted average grant date fair value assumptions: Expected term 5.7 years Risk-free interest rates 4.5 % Expected volatility 55.0 %
Schedule of Share-Based Payment Arrangement, Option, Activity	Stock option activity under the Plan and the 2017 Plan was as follows (in millions, except per share amounts): Number of Weighted Weighted average remaining contractual term (in years) Aggregate intrinsic value Outstanding at December 31, 2022 63 $ 1.76 Granted 37 1.42 Exercised (2) 0.45 Forfeited (1) 2.49 Expired — 2.51 Outstanding at March 31, 2023 97 $ 1.64 7.9 $ 15 Exercisable at March 31, 2023 44 $ 1.45 6.1 $ 15

Derivative Liabilities (Tables)

Derivative Liabilities (Tables)	3 Months Ended
	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Liabilities Measured at Fair Value on Recurring Basis	The components of derivative liabilities measured at fair value on a recurring basis were as follows (in millions): As of Fair value level March 31, December 31, Public warrants Level 1 $ 2 $ 2 Private placement warrants Level 2 2 1 Common stock warrants 4 3 Earnout share liabilities Level 3 2 1 Total derivative liabilities $ 6 $ 4
Schedule of Fair Value of Derivative Liabilities	The components of change in fair value of derivative liabilities were as follows (in millions): Three Months Ended March 31, 2023 2022 Change in fair value of derivative liabilities: Common stock warrants $ (1) $ 35 Earnout share liabilities (1) 31 Total change in fair value of derivative liabilities $ (2) $ 66

Balance Sheet Details (Tables)

Balance Sheet Details (Tables)	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Property and Equipment, Net	The components of property and equipment, net were as follows (in millions): As of March 31, December 31, Land $ 14 $ 14 Buildings and Leasehold improvements 71 70 Equipment 24 24 Vehicles 8 7 Other 15 15 132 130 Less accumulated depreciation and amortization (44) (39) Total property and equipment, net $ 88 $ 91
Schedule of Other Current Liabilities	The components of other current liabilities were as follows (in millions): As of March 31, December 31, Accrued compensation $ 65 $ 52 Other accrued expenses 23 18 Total accrued expenses and other current liabilities $ 88 $ 70

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Schedule of Potential Common Stock Outstanding Excluded from Computation of Diluted Loss Per Share	The following table presents the potential common stock outstanding excluded from the computation of diluted loss per share because including them would have had an antidilutive effect (in millions): As of March 31, March 31, RSUs 129 67 Stock options 98 77 Public warrants 12 12 Private placement warrants 9 9 Earnout shares liability 5 5 Total 253 170

Cash, Cash Equivalents and Sh_3

Cash, Cash Equivalents and Short- Term Investments - Cash, Cash Equivalents and Short-Term Investments of Restricted Cash (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 175	$ 262
Restricted cash, long-term	20	15
Total cash, cash equivalents and restricted cash	$ 195	$ 277	$ 521	$ 1,626

Cash, Cash Equivalents and Sh_4

Cash, Cash Equivalents and Short-Term Investments - Cash, Cash Equivalents and Short-Term Investments Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents	$ 174	$ 261
Total short-term investments	791	839
U.S. Treasury securities | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	791	839
Money market funds | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents	149	204
U.S. Treasury securities | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents	$ 25	$ 57

Cash, Cash Equivalents and Sh_5

Cash, Cash Equivalents and Short-Term Investments - Cash, Cash Equivalents and Short-Term Investments Amortized Cost, Unrealized Gains and Estimated Fair Value (Details) - U.S. Treasury securities - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Amortized cost	$ 792	$ 841
Unrealized losses	(1)	(2)
Fair value	$ 791	$ 839

Collaboration Revenue (Details)

Collaboration Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Cash receipts		$ 48
Collaboration revenue	$ 0	$ 42

Stockholders_ Equity - Narrativ

Stockholders’ Equity - Narrative (Details) shares in Millions	Mar. 31, 2023 votePerShare $ / shares shares	Dec. 31, 2022 $ / shares shares
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)	1,000
Preferred stock, par value (in usd per share) | $ / shares	$ 0.00001
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, shares authorized (in shares)	51,000	51,000
Common stock, par value (in usd per share) | $ / shares	$ 0.00001	$ 0.00001
Common stock, shares issued (in shares)	1,175
Common stock, shares outstanding (in shares)		1,166
Common Class A
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	50,000
Number of votes per share stock holders are entitled to receive | votePerShare	1
Common stock, shares issued (in shares)	766	754
Common stock, shares outstanding (in shares)	766	754
Common Class B
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	1,000
Number of votes per share stock holders are entitled to receive | votePerShare	10
Common stock, shares issued (in shares)	409	412
Common stock, shares outstanding (in shares)	409	412

Equity Incentive Plans - Narrat

Equity Incentive Plans - Narrative (Details)	3 Months Ended
	Mar. 31, 2023 USD ($) vestingRequirement shares	Mar. 31, 2022 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity compensation plans | vestingRequirement	4
Share based compensation income tax benefit	$ 0
Capitalized hare based compensation	$ 0
Stock options granted (in shares) | shares	37,000,000	0
Option, costs not yet recognized	$ 45,000,000
Intrinsic value of stock	$ 2,000,000
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of vesting requirements | vestingRequirement	2
Cost not yet recognized	$ 314,000,000
Period for recognition	2 years 7 months 6 days
Stock based compensation expense	$ 13,000,000
RSUs | Share-Based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
RSUs | Share-Based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
RSUs | Minimum | Share-Based Payment Arrangement, Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
RSUs | Maximum | Share-Based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period for recognition	2 years 2 months 12 days
Percentage of fair value common stock, threshold	100%
Expiration period (in years)	10 years
Expiration period, following termination	3 months
Stock options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
Stock options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
2021 Incentive Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant (in shares) | shares	69,000,000

Equity Incentive Plans - Stock-

Equity Incentive Plans - Stock-based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock based compensation expense	$ 39	$ 29
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock based compensation expense	34	26
Selling, general, and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock based compensation expense	$ 5	$ 3

Equity Incentive Plans - Schedu

Equity Incentive Plans - Schedule of Restricted Stock Units (Details) - RSUs shares in Millions	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Number of shares
Unvested at beginning balance (in shares) | shares	103
Granted (in shares) | shares	38
Vested (in shares) | shares	(7)
Forfeited (in shares) | shares	(5)
Unvested at ending balance (in shares) | shares	129
Weighted average grant date fair value
Unvested beginning balance (in usd per share) | $ / shares	$ 3.70
Granted (in usd per share) | $ / shares	1.42
Vested (in usd per share) | $ / shares	4.40
Forfeited (in usd per share) | $ / shares	3.51
Unvested ending balance (in usd per share) | $ / shares	$ 3

Equity Incentive Plans - Stock

Equity Incentive Plans - Stock Option Activity Granted (Details) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (in shares)	37,000,000	0
Weighted average grant date fair value (in usd per share)	$ 0.79
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	5 years 8 months 12 days
Risk free interest rate (as a percent)	4.50%
Expected volatility rate (as a percent)	55%

Equity Incentive Plans - Stoc_2

Equity Incentive Plans - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Number of shares
Outstanding at beginning of period (in shares)	63,000,000
Granted (in shares)	37,000,000	0
Exercised (in shares)	(2,000,000)
Forfeited (in shares)	(1,000,000)
Expired (in shares)	0
Outstanding at ending of period (in shares)	97,000,000
Number of shares, Exercisable (in shares)	44,000,000
Weighted average exercise  price
Outstanding at beginning of period (in usd per share)	$ 1.76
Granted (in usd per share)	1.42
Exercised (in usd per share)	0.45
Forfeited (in usd per share)	2.49
Expired (in usd per share)	2.51
Outstanding at end of period (in usd per share)	1.64
Weighted average exercise price, Exercisable (in usd per share)	$ 1.45
Weighted average remaining contractual term, Outstanding	7 years 10 months 24 days
Weighted average remaining contractual term, Exercisable	6 years 1 month 6 days
Aggregate intrinsic value, Outstanding	$ 15
Aggregate intrinsic value, Exercisable	$ 15

Derivative Liabilities - Fair V

Derivative Liabilities - Fair Value Recurring Basis (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total derivative liabilities	$ 6	$ 4
Common stock warrants
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liabilities	4	3
Public warrants | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liabilities	2	2
Private placement warrants | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liabilities	2	1
Earnout shares liability | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liabilities	$ 2	$ 1

Derivative Liabilities - Narrat

Derivative Liabilities - Narrative (Details) - shares	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Derivative [Line Items]
Earnout shares outstanding (in shares)	5,000,000	5,000,000
Public warrants
Derivative [Line Items]
Warrants outstanding (in shares)	12,000,000	12,000,000
Private placement warrants
Derivative [Line Items]
Warrants outstanding (in shares)	9,000,000	9,000,000

Derivative Liabilities - Fair_2

Derivative Liabilities - Fair Value of Derivative Liabilities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Class of Warrant or Right [Line Items]
Change in fair value of derivative liabilities	$ (2)	$ 66
Common stock warrants
Class of Warrant or Right [Line Items]
Change in fair value of derivative liabilities	(1)	35
Earnout shares liability
Class of Warrant or Right [Line Items]
Change in fair value of derivative liabilities	$ (1)	$ 31

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Operating lease, rent expense	$ 7	$ 7
Weighted average remaining lease term	8 years 6 months
Weighted average discount rate, percent	6.80%
Future lease payments for leases not yet commenced	$ 32

Balance Sheet Details - Propert

Balance Sheet Details - Property and Equipment, Net (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 132	$ 130
Less accumulated depreciation and amortization	(44)	(39)
Total property and equipment, net	88	91
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	14	14
Buildings and Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	71	70
Equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	24	24
Vehicles
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	8	7
Other
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 15	$ 15

Balance Sheet Details - Other C

Balance Sheet Details - Other Current Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued compensation	$ 65	$ 52
Other accrued expenses	23	18
Total accrued expenses and other current liabilities	$ 88	$ 70

Earnings Per Share - Antidiluti

Earnings Per Share - Antidilutive Shares (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential stock excluded from the computation of diluted loss per share (in shares)	253	170
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential stock excluded from the computation of diluted loss per share (in shares)	129	67
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential stock excluded from the computation of diluted loss per share (in shares)	98	77
Derivative | Public warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential stock excluded from the computation of diluted loss per share (in shares)	12	12
Derivative | Private placement warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential stock excluded from the computation of diluted loss per share (in shares)	9	9
Derivative | Earnout shares liability
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential stock excluded from the computation of diluted loss per share (in shares)	5	5