The Agility Robotics IPO happened today. Agility, the Nvidia-backed company behind the Digit warehouse humanoid, began trading on Nasdaq on November 5, 2026 under the ticker AGLT. It is the first US pure-play humanoid robot maker to go public. Until now, the only way to value humanoids was through private funding rounds involving Tesla, Figure and 1X. Now there is a stock price, public filings and quarterly numbers on the way. If you run a warehouse, a plant or a 3PL, those numbers will tell you more about humanoid robots than any trade show demo.
What’s actually new with the Agility Robotics IPO
This is not a traditional IPO. Agility went public by merging with a SPAC, Churchill Capital Corp XI. Its common stock trades as AGLT and its warrants as AGLTW. The company says the deal raised about $465 million in gross proceeds before expenses: roughly $164 million from Churchill XI’s trust account, about $201 million from a PIPE led by Foxconn, and $100 million in pre-closing equity. When the deal was announced in June, Agility’s pre-money equity value was $2.5 billion. Agility says it will use the money to fill customer orders, expand deployments, scale Digit production and develop its platform.
The product story is Digit 5, which Agility unveiled in September 2026. It repeatedly lifts up to 50 lb using cycloidal actuators and has interchangeable end effectors. The bigger change: it is designed to be “cooperatively safe,” so it can work near people instead of inside a fenced-off cell like earlier versions. Agility claims a Nyobolt battery recharges in nine minutes and delivers more than 20 productive hours a day. Onboard compute will standardize on NVIDIA IGX Thor, from the same Thor family as the Jetson Thor robotics modules, with NVIDIA Halos safety technology planned on top. Early customer access is set for the first half of 2027 and general availability for the end of 2027.
The commercial picture is mixed. Agility reports more than $300 million in committed multi-year Digit 5 orders, but those depend on hitting contractual milestones and specifications. At GXO’s site in Georgia, Digit has moved more than 100,000 totes, and GXO plans two more facilities for early 2027. Schaeffler and Toyota Motor Manufacturing Canada are current customers, and AGCO has signed for a 2027 pilot. Revenue remains tiny next to the losses. TechCrunch reports $174,000 in revenue for the first half of 2026, mostly from related parties, against $362 million in losses for the same period.
Why it matters for humanoid robot stocks in 2026
- A real price for the category. Figure’s roughly $39 billion private valuation has been the humanoid benchmark. AGLT now provides a daily, liquid price for a company with deployed robots and paying customers. If the gap between those two numbers stays wide, private valuations will come under pressure.
- Disclosure you can’t get anywhere else. As a public company, Agility must report revenue, losses, order conversion and deployment numbers every quarter. That is the first audited look at humanoid unit economics, and exactly what you need to build your own business case.
- Warehouse humanoid robots are past the demo stage, but only just. Moving 100,000+ totes at GXO is real work. Revenue in the hundreds of thousands of dollars says the market is still at pilot scale. Plan for pilots, not a fleet rollout.
- Nvidia is building the standard platform. Thor-class compute plus Halos safety is becoming the default stack for physical AI. Once hardware standardizes, vendors compete on uptime, accuracy and service, all of which you can measure in a pilot.
- Foxconn’s involvement points to manufacturing scale. When the world’s largest contract manufacturer leads the PIPE, expect pressure on hardware costs. Agility’s RoboFab in Salem, Oregon is designed to build up to 10,000 robots a year.
- The rivalry goes public. Figure CEO Brett Adcock publicly predicted Agility would go bankrupt within a year. Public filings will now settle that argument in full view.
How to use it today
Most business owners won’t trade AGLT, and this is not investment advice. The value is in the information that now becomes public. Here is how to use it.
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Pull the primary filings yourself. Don’t rely on headlines. The merger documents were filed under Churchill Capital Corp XI on SEC EDGAR (CIK 0002074973), and future quarterly reports will appear under the combined company. This command lists recent filings:
curl -s -H "User-Agent: YourCompany research@yourcompany.com" \ "https://data.sec.gov/submissions/CIK0002074973.json" \ | py -c "import sys,json; d=json.load(sys.stdin)['filings']['recent']; [print(d['filingDate'][i], d['form'][i], d['primaryDocument'][i]) for i in range(15)]"Check the 8-K and 425 filings for deal terms. Once 10-Q filings start, look for order backlog, deployments, and the revenue split between related-party and third-party customers.
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Run the ROI math before you take a sales call. Agility pitches about $100,000 in savings per robot per year under a robot-as-a-service model. Test that figure against your own labor costs:
# humanoid_roi.py - rough robot-as-a-service break-even check loaded_hourly_wage = 24.00 # wage + benefits + overhead, USD shifts_covered = 2 # shifts per day the robot replaces hours_per_shift = 8 days_per_year = 300 task_accuracy = 0.98 # Agility cites ~98% placement accuracy exception_cost = 3.00 # USD of human cleanup per failed pick picks_per_hour = 300 raas_annual_fee = 0.0 # fill in from vendor quote labor_saved = loaded_hourly_wage * shifts_covered * hours_per_shift * days_per_year annual_picks = picks_per_hour * shifts_covered * hours_per_shift * days_per_year error_cost = annual_picks * (1 - task_accuracy) * exception_cost net = labor_saved - error_cost - raas_annual_fee print(f"Labor saved: ${labor_saved:,.0f}") print(f"Error cleanup: ${error_cost:,.0f}") print(f"Net per robot: ${net:,.0f}")Watch the error-cleanup line. At warehouse volumes, a 2% miss rate can wipe out a large share of the savings.
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Use a standard vendor questionnaire. TechCrunch reports that a proof of concept costs prospective customers $500,000. Before you spend that, get written answers to these questions:
HUMANOID VENDOR QUESTIONNAIRE 1. Guaranteed throughput (units/hour) on OUR SKU mix, in writing? 2. Uptime SLA and penalty if missed? 3. Placement accuracy target and how it is measured? 4. Charge time and productive hours per 24h on our duty cycle? 5. Safety: can it operate un-fenced near staff? Which standards? 6. Who handles WMS/WES integration, and at what cost? 7. RaaS fee structure: per robot, per hour, or per unit moved? 8. Exit terms if KPIs are not met after the pilot? 9. Mean time to repair and on-site service coverage in our region? 10. Is pilot fee creditable against a fleet contract? -
Have an LLM pressure-test the vendor’s pitch. Paste the vendor deck or proposal into any capable assistant with this prompt:
You are a skeptical warehouse operations director. Review the attached humanoid robot proposal. List: (1) every quantitative claim and whether it is guaranteed or "target", (2) missing KPIs I should demand, (3) hidden costs (integration, floor changes, IT/security, training), (4) the three questions most likely to expose weak unit economics. Be blunt. Output as a numbered list. -
Track the category, not just one stock. Build a simple watchlist: AGLT, NVDA (compute), TSLA (Optimus), and Foxconn/Hon Hai (manufacturing). Read each company’s humanoid commentary every earnings season. When AGLT reports order conversion, you get a free read on how humanoids are landing with customers in your industry.
How it compares: Agility Robotics vs Figure AI and the field
| Company | Robot | Ownership | Primary market | Status |
|---|---|---|---|---|
| Agility Robotics | Digit / Digit 5 | Public (Nasdaq: AGLT) | Warehouse and manufacturing logistics | Paid deployments (GXO, Schaeffler, Toyota Canada); Digit 5 GA targeted end of 2027 |
| Figure AI | Figure 03 | Private (~$39B valuation, 2025) | Manufacturing, then home | Pilots; heavy focus on general-purpose AI |
| Tesla | Optimus | Inside TSLA | Tesla factories first, then external sales | Internal use; external timelines have slipped repeatedly |
| 1X | NEO | Private | Consumer home | Pre-orders opened in 2025; early home deliveries |
| Apptronik | Apollo | Private | Logistics and manufacturing | Pilots with automotive and logistics partners |
Our take: Figure, Tesla and 1X have robots that look more impressive on video. Agility has what business owners should care about most: customer hours on real floors (more than 65,000 operating hours, by its count), plus an obligation to report publicly on how those deployments perform. Agility sells a narrow, proven task done safely and repeatedly. The others are betting on general-purpose ability.
What’s next
The next 12 months are about Digit 5. The robot is scheduled to appear at CES 2027, early customer access starts in the first half of 2027, and general availability is targeted for the end of 2027. Agility has not disclosed the throughput, uptime and placement accuracy targets Digit 5 must hit, and those targets decide whether the $300 million in committed orders becomes revenue. Watch how the backlog converts quarter by quarter, and watch the share of revenue from customers who are not related parties.
Also watch the cash. $465 million covers current needs, but Agility has not committed to a path to self-sufficiency. At the burn rate implied by the first half of 2026, investors will expect another raise or a sharp revenue ramp by 2028. That matters to customers as much as shareholders. Before you sign a multi-year robot-as-a-service contract, ask what happens to service and support if the vendor runs into financial trouble.
Finally, watch the ripple effect. If AGLT holds its value, expect Figure, Apptronik and others to explore public listings, including SPACs. If it trades down hard, expect a reset in private humanoid valuations and tougher funding rounds. Either way, buyers gain leverage: vendors that need logo customers will negotiate on pilot fees and SLAs.
Frequently Asked Questions
Did Agility Robotics do a traditional IPO?
No. Agility went public through a business combination with the SPAC Churchill Capital Corp XI and began trading on Nasdaq on November 5, 2026. The common stock trades as AGLT and the warrants as AGLTW. Most coverage still calls it the Agility Robotics IPO.
Is Agility Robotics really Nvidia-backed?
Bloomberg describes Agility as Nvidia-backed. Agility’s listing announcement names Nvidia as a technology collaborator: Digit 5 standardizes on NVIDIA IGX Thor compute and plans to integrate NVIDIA Halos safety technology. Foxconn led the PIPE financing.
What does the Digit humanoid robot actually do?
Digit moves totes and handles repetitive material movement in warehouses and factories. Digit 5 lifts up to 50 lb, has swappable end effectors, and is designed to work safely near people. It excels at structured, repetitive tasks but cannot yet handle complex dexterous manipulation.
Should my business buy or lease a humanoid robot now?
For most businesses, not yet at fleet scale. If you run high-volume tote handling, a paid pilot can make sense. Get guaranteed KPIs in writing, an exit clause, and a pilot fee that credits toward a later fleet contract. Everyone else should watch Agility’s quarterly disclosures through 2027 first.
How does Agility Robotics compare to Figure AI?
Figure is private, valued at roughly $39 billion in 2025, and pursuing general-purpose humanoids. Agility is public, valued at about $2.5 billion pre-money in the merger, and focused on logistics with paid deployments. Figure has the bigger vision. Agility has more customer hours on real floors and must now report its results publicly.
What are the biggest risks with AGLT?
Tiny revenue against large losses, order commitments that depend on Digit 5 hitting undisclosed targets, possible dilution if the company needs more capital, and strong competition from better-funded rivals. Read the SEC filings before you form an opinion. This article is not investment advice.
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