Agility Robotics Nasdaq Debut Puts Digit's Economics On Public Display

Fast Facts

The Agility Robotics Nasdaq debut begins today under the ticker AGLT, after Churchill Capital Corp XI (Nasdaq: CCXI) shareholders approved the merger on November 2 with more than 84% of votes cast. The deal values the humanoid robot maker at roughly $2.5 billion and is expected to bring in about $465 million of gross capital.

The gap is the story. Third-party summaries of the SEC filing show about $174,000 of net sales in the first half of 2026, while the $300 million-plus Digit 5 order book is conditional on milestones. For buyers, quarterly disclosure is the real product of this listing.

Humanoid buyers have never been able to read a quarterly report from a pure-play vendor. The Agility Robotics Nasdaq debut ends that on November 5, when common shares start trading as AGLT and warrants as AGLTW. Agility calls itself the only U.S.-listed pure-play humanoid company with active deployments, a company claim, but the disclosure duty that comes with a ticker is real.

What the Agility Robotics Nasdaq Debut Actually Funds

The raise is about $465 million gross, according to the company’s October 30 filing. Roughly $164 million comes from Churchill’s trust account and about $201 million from a PIPE priced at $10 a share and led by Foxconn (TWSE: 2317), so those two pieces account for about $365 million. Agility says proceeds go to fulfilling existing orders, expanding commercial deployments and scaling Digit 5 production.

Capacity is the telling number. Startup Fortune reports that the RoboFab plant in Salem, Oregon is designed for up to 10,000 Digit units a year, while cumulative sales sit near 100 units. See our analysis where we explain why humanoid robot production numbers are so hard to verify.

Orders Are Not Revenue

The $300 million-plus Digit 5 order book is the headline in the merger materials. Agility’s own release says those orders depend on contractual milestones, product features and specifications, and do not represent current-period revenue. Digit 5 early-access deliveries are targeted for the first half of 2027, with general availability by the end of 2027. The Agility Robotics Nasdaq debut therefore prices a delivery schedule, not a revenue run rate.

Third-party summaries of the filing put net sales at about $1.78 million in 2025 and about $174,000 in the first half of 2026, against net losses of $138.1 million and $361.9 million. The first-half loss includes large non-cash accounting charges, and cash used in operations was $86.2 million. At that half-year pace, the $465 million gross raise covers roughly 2.7 years of operating cash burn before transaction costs. (our arithmetic).

Metric	Value
H1 2026 net sales	$174K
Conditional Digit 5 orders	$300M+
Deal valuation	~$2.5B
Digit units sold to date	~100

Sources: Agility/Churchill SEC filings (October 30 and November 2, 2026), as summarized by New Market Pitch; unit count per Startup Fortune.

Why a Listing Arrives While Private Money Cools

Bloomberg reported on November 4 that Chinese robotics fundraising fell to about 11 billion yuan ($1.6 billion) in October. That is less than half of August’s roughly 24 billion yuan and down 67% from June’s record 32.8 billion yuan, according to ITjuzi data. If private rounds are slowing, public markets become the next source of capital for humanoid robot makers. See our analysis where we explain how Unitree’s valuation moved in a single trading day and why price discovery cuts both ways.

Optimus sits inside Tesla (NASDAQ: TSLA) and Figure AI is private, so AGLT becomes the only listed pure-play humanoid proxy in the U.S., if Agility’s claim holds.

What Buyers Should Read in the First Filing

Operators in warehousing and manufacturing should treat quarterly reports as a free due-diligence file. Three lines matter: gross margin per delivered Digit, how much of the order book converts into recognized revenue each quarter, and customer concentration around GXO Logistics (NYSE: GXO). GXO is adding Digit at Statesville, North Carolina and Lebanon, Tennessee from early 2027, then migrating those sites to Digit 5.

See our analysis where we explain how the Agility and Toyota robots-as-a-service deal is structured, and read the vendor’s uptime claims against our seven spec sheet checks. See our analysis where we explain why Digit 5’s 20-hour day depends on a charging dock, because shift-hour claims only count when the dock and the battery chemistry are in the quote.

⚠️ Hypothetical scenario: A Lagos third-party logistics operator is shown the AGLT listing as proof that humanoid warehouse robots are ready to buy. Its operations head asks one question: of the tote-moving stations in the quote, how many run on a signed deployment today, and what happens to the price if Digit 5 slips past 2027? The salesperson answers with the order book. The operator signs a two-unit pilot with exit rights tied to delivered uptime instead of a fleet commitment. The listing created a disclosure calendar, not a deployment guarantee.

💡 CreedTec Analyst’s Note by Daniel Ikechukwu

Strategic Impact

The listing turns a private-company claim into a quarterly test. Agility’s value rests on Digit 5 arriving in 2027 and conditional orders converting, so execution risk, not demand, is what public investors will price every quarter.

Stop / Start / Watch

Stop: treating the $300 million order book as revenue or as a valuation anchor.
Start: asking every humanoid vendor for converted-order data and gross margin per unit.
Watch: the first AGLT earnings call for order conversion, the Digit 5 early-access date and cash burn against the $465 million raise.

ROI Outlook

A leased Digit pilot’s return cannot be judged until Agility discloses per-unit economics. The Agility Robotics Nasdaq debut gives that data a schedule, and the first two quarterly reports should show whether the $2.5 billion valuation rests on order conversion or on hope.

— Daniel Ikechukwu

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