Agility Robotics Goes Public With $465M Raised at a $2.5B Valuation on $1.8M in 2025 Sales
The humanoid maker, backed by Nvidia, Amazon and Foxconn, opened at $11.26 against a $10 deal price, while its $300 million-plus Digit 5 order backlog depends on contract milestones.
Agility Robotics began trading on Nasdaq on Thursday as AGLT after completing its merger with Churchill Capital Corp XI, a special purpose acquisition company (SPAC). Bloomberg described it as the first dedicated humanoid robot company to go public in the U.S. The company has about $465 million of gross capital before expenses, including roughly $201 million from a Foxconn-led private placement. Shares opened at $11.26, above the $10 deal price, and traded at $10.24 at 12:37 p.m. ET.
What was announced
| Item | Details |
|---|---|
| Listing | Combined company common stock and warrants trade on Nasdaq as AGLT and AGLTW from Nov. 5; the merger closed Nov. 4 after Churchill XI shareholders approved it |
| Gross capital | About $465 million before expenses: about $164 million from Churchill XI's trust account, about $201 million from a common stock private placement at $10 per share led by Foxconn, and $100 million of equity funding received after the deal was announced |
| Named investors | Nvidia, Amazon, SoftBank Vision Fund 2, Schaeffler, Foxconn, Abico, DCVC and Playground Global are listed as strategic investors and partners |
| Valuation | $2.5 billion pre-money equity value, set when the deal was announced in June |
| Existing holders | Agility's shareholders roll 100% of their equity into the combined company, with a 180-day lock-up for them and the Churchill sponsor, and early release tied to stock-price measures |
| Use of proceeds | Commercial expansion and growing customer demand, according to the company |
First day of trading
| Measure | Price | Context |
|---|---|---|
| Deal price | $10.00 | The price of the Foxconn-led private placement |
| Opening price | $11.26 | Above the $10 deal price |
| Day's range | $8.40 to $11.49 | As of 12:37 p.m. ET |
| Latest | $10.24 | At 12:37 p.m. ET, about 2% above the deal price |
The share price changes by the minute.
What Agility does
- Digit. Agility's flagship humanoid robot, which the company says is in commercial use in manufacturing, distribution and logistics, with more than 65,000 hours of real-world operation.
- Customers. The company names GXO, Schaeffler and Toyota Motor Manufacturing Canada. GXO is expanding to two more U.S. facilities, with deployments expected to begin in early 2027, and AGCO signed an agreement to pilot Digit at a Kansas facility starting in 2027.
- Digit 5. The next-generation robot is designed for cooperative safety. Agility reports more than $300 million in committed multi-year orders, subject to contractual milestones, which the company says does not represent current-period revenue. Early access is expected in early 2027.
- Manufacturing and software. Agility's RoboFab facility in Salem, Oregon, is designed to build up to 10,000 robots a year, and its Arc cloud software manages robot fleets.
The numbers behind the valuation
| Metric | Figure | Note |
|---|---|---|
| 2025 revenue | About $1.8 million | Reported as $1.78 million, up from $310,000 in 2024, with about 64% from related parties |
| 2025 net loss | $138.1 million | |
| Cash at end of 2025 | $103 million | Before the merger proceeds |
| Pre-money value vs. 2025 revenue | About 1,400 times | $2.5 billion divided by $1.8 million |
| Trust cash after redemptions | About $164 million | Against $420 million that would have been available with no redemptions, so roughly 61% was redeemed |
The revenue and loss figures are as reported by Forbes and other outlets. Forbes also noted that Unitree, which listed in Shanghai in August, reported about $235 million in 2025 revenue.
What to watch
- Orders to revenue. How much of the $300 million-plus Digit 5 backlog converts as contract milestones are met.
- 2027 deployments. Whether Digit 5 early access and the GXO and AGCO deployments start on schedule in 2027.
- First report. Agility's first results as a public company, including revenue, cash use and order updates.
- Lock-up. The 180-day lock-up for existing holders and the Churchill sponsor, with early release tied to stock-price measures.
- Related coverage. See our market recap, the Bloom Energy and NTT DATA report and SpaceX's wireless buildout.
Sources: Deal and business details are from Agility Robotics' Oct. 30 and Nov. 4 releases and the June announcement. Share prices are from market data quotes on Nov. 5 and Forbes. Financial figures are as reported by Forbes and other outlets, and items marked about are rounded or calculated from reported figures. This article is informational only and is not investment advice.
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