Agility Robotics completed its SPAC merger with Churchill Capital Corp XI on Wednesday and was set to begin trading on Nasdaq under the ticker AGLT the following day, becoming the first US pure-play humanoid robotics company to reach public markets. The deal values existing equity at about $2.5 billion and is expected to provide roughly $465 million in gross capital before expenses.¹

The Oregon company’s case is unusually tangible for a sector heavy on demos. Digit robots have been deployed across nine customer sites, including operations linked to Amazon, Toyota and GXO. ABI Research analyst George Chowdhury called the installations small in the broader scheme, but said Agility is distinctive because it is “actually deployed.”¹ At GXO, Digit has moved more than 100,000 totes, while Agility says its focus has been repetitive, difficult-to-staff industrial work rather than flashy robot performances.³

But the listing also forces a public accounting of the gap between deployment and a durable business. Agility reported $1.8 million in 2025 revenue against roughly $140 million in operating losses, after using $99.8 million in cash to run the business. Its filings say losses and operating expenses are expected to continue for the foreseeable future.¹

Management’s answer is Digit 5, due for customer deliveries in the first half of 2027 and broader availability by year-end. Agility says it has more than $300 million in orders for 1,000 robots from one customer over three years, contingent on meeting milestones for features, specifications and delivery.² The subscription pitch is straightforward: customers pay about $25,000 to deploy a robot and $8,500 a month for software and maintenance; Agility argues that can replace about $200,000 in annual labor expense with $100,000 in robot costs.²

The unresolved question is whether those projections survive the factory floor. Digit 5 must deliver throughput, uptime and placement accuracy before contracts convert, and its estimated $150,000 bill of materials must fall sharply as production scales. CEO Peggy Johnson’s view is that Digit can repeatedly handle a 50-pound lift that employers should not assign to people: “You want to give that to the robot.”³ Investors now have a front-row seat to whether the robot can do it cheaply enough.