Agility Robotics' securities filing disclosed $1.8 million in 2025 revenue against a net loss of $138.1 million, putting hard numbers behind the gap between the humanoid robotics sector's ambitions and its commercial reality5. More than half of that revenue came from five robots purchased by one of the company's investors. The company completed its merger with Churchill Capital Corp XI on November 4 and began trading under the ticker AGLT on November 5, with warrants listed as AGLTW8,14. Bloomberg reported Agility is the first dedicated humanoid robotics company to go public in the U.S.15. Shares fell roughly 10% on the first day of trading, according to TipRanks13.
CEO Peggy Johnson framed the debut around the company's focus on manual, repetitive warehouse jobs rather than flashy demonstrations. "We stuck to our strategy, which [are] these manual, very repetitive jobs, that it's hard to find humans to do," Johnson told TechCrunch ahead of the listing2. The company says it is the only U.S. publicly listed pure-play humanoid robotics company with active commercial deployments1.
Agility's own filing acknowledged that humanoid robots "remain unproven at scale and have not yet achieved widespread commercialization, compared with industrial robots that have decades of proven track records in warehouses and factories"3.
Financials and order pipeline
Shareholders of Churchill Capital Corp XI approved the SPAC merger on November 2, with more than 84% of votes cast in favor. The deal values the combined company at roughly $2.5 billion and is expected to deliver about $465 million in gross proceeds. The proceeds include a $201 million PIPE in common stock priced at $10 a share, led by Foxconn Technology Group, plus roughly $164 million held in Churchill Capital Corp XI's trust account. A separate $100 million funding round closed after the SPAC announcement16. Nvidia Corp. and Amazon back the company, and it has signed multi-year contracts with Toyota, GXO Logistics, Mercado Libre, and Schaeffler17,18.
Agility says it has secured more than $300 million in committed multi-year orders for its next-generation Digit v5, subject to contractual milestones. Those orders come from a single undisclosed customer, according to Semafor7. All existing Agility shareholders rolled 100% of their equity into the combined company, with shares subject to a 180-day lock-up, with early release possible under certain stock-price performance measures. Agility will use the capital to bring Digit v5 to market and add manufacturing capacity4.
The company estimates its 2026 operating loss between $138 million and $140 million and earned $174,000 in the first six months of 2026, mostly from related parties.11 Agility burned $99.8 million in operating cash in 2025.
Deployments and Digit v5 specs
Agility's Digit humanoid robot has logged more than 65,000 operating hours across commercial customers including GXO Logistics, Schaeffler, and Toyota Motor Manufacturing Canada. The company has deployed robots at nine different customer locations. At a GXO logistics facility, Digits have moved more than 100,000 totes. GXO and Agility plan to expand deployments to two additional U.S. logistics facilities in early 2027, and AGCO has signed an agreement to pilot Digit at its Hesston, Kansas, factory in 2027.
Digit v5, unveiled in September, stands nearly six feet tall, can lift up to 50 pounds, and operates for more than 20 hours in a 24-hour period. Its batteries, made by British startup Nyobolt, recharge in nine minutes. The robot is designed to work alongside people without physical safety barriers, unlike earlier models. Agility says Digit v5 is the first humanoid to go through a field evaluation against OSHA standards. The robot runs some of its software on Nvidia's IGX Thor system-on-chip series. Early customer access to Digit v5 is expected in the first half of 2027, with general availability targeted by year-end 20276,9.
Agility operates RoboFab, a 70,000-square-foot manufacturing facility in Salem, Oregon, designed to produce up to 10,000 Digit units a year. The company projects deploying 800 units in 2027, 7,000 in 2030, and up to 25,000 in 2035. Co-founded by chief robot officer Jonathan Hurst, the company was spun out of Oregon State University in 201519.
Under its robots-as-a-service model, customers pay about $25,000 per robot for deployment plus $8,500 per month. "Because they're paying a rate that is comparable to the human labor rate, and that makes the economics pretty straightforward," Hurst told Ars Technica.
China's Unitree, which sells humanoid robots for less than American rivals, listed in Shanghai in August and has since seen its value fall as investors question whether demand matches the hype.
ANALYSIS The first-day share decline and the disclosure that more than half of 2025 revenue came from a single investor-customer underscore the distance between Agility's $2.5 billion valuation and its commercial traction, placing substantial weight on whether the conditional $300 million Digit v5 backlog converts into recurring revenue through scaled production starting in 2027.