Agility Robotics began trading on the Nasdaq Stock Market on Thursday under the ticker "AGLT," becoming what the company calls the first pure-play legged humanoid robotics company to go public, after completing its merger with the special-purpose acquisition company Churchill Capital Corp XI, according to The Robot Report and Bloomberg.
The Salem, Oregon-based company's stock opened at $11.26 per share, above the $10-per-share reference price used in the SPAC deal, and was trading at $10.30 shortly after, The Robot Report reported. Bloomberg described Agility as Nvidia-backed, and Investor's Business Daily framed the listing as a public-market rival to Tesla's Optimus program.
"Today marks an important milestone for Agility, but the bigger story is what it means for the future of work," said Peggy Johnson, Agility's CEO, in a statement. "AI is moving beyond the digital world and into the physical world, creating new possibilities for how people and machines work together. At Agility, that future is already taking shape."
For investors looking to understand how the physical AI economy is taking shape, the listing offers the first direct public-market exposure to humanoid robotics — a sector that until now could only be traded indirectly through the suppliers and chipmakers feeding it. Follow our AI industry coverage as more robotics companies weigh public listings.
How the SPAC Deal Came Together
Churchill XI shareholders approved the merger on November 2, with more than 84 percent of votes cast in favor, and the transaction closed on November 4, according to The Robot Report. Shares held by existing Agility shareholders and by the Churchill sponsor are subject to a 180-day lock-up after closing, subject to early release based on certain stock-price performance measures.
The deal provides roughly $465 million in gross proceeds before expenses. That total includes about $164 million from Churchill XI's trust account after redemptions, $201 million from a private investment in public equity (PIPE) led by Foxconn, and a $100 million funding round closed after the SPAC announcement. Agility had previously projected more than $620 million in proceeds if no shareholders redeemed — meaning the redemptions shaved roughly $155 million off the expected war chest.
Agility Robotics spun out of Oregon State University in 2015. Its robot, Digit, is designed for warehouse work and has been deployed moving totes in logistics facilities.
The Financial Picture: Tiny Revenue, Deep Losses
The public filings behind the listing lay out the gap between humanoid robotics' promise and its commercial reality. Agility reported $1.78 million in revenue in 2025, up from $310,000 in 2024, with a net loss of $138.1 million, The Robot Report reported. About 64 percent of that revenue came from related parties — a figure that underlines how early the company's commercial base remains. The company ended 2025 with $103 million in cash, before the SPAC proceeds.
Against those numbers, Agility is leaning on its deployment record and order book. The company says Digit has logged more than 65,000 hours of operation across nine customer facilities, with customers including AGCO, GXO Logistics, Schaeffler, Mercado Libre and Toyota Motor Manufacturing Canada. Agility also says it has more than $300 million in committed multiyear orders for its next-generation Digit 5, subject to contractual milestones and product specifications, with early-access deliveries expected to begin in 2027.
"Digit is doing real work in customer operations today, taking on repetitive, physically demanding tasks," Johnson said. "Becoming a public company gives us access to more resources to help accelerate that progress, bring intelligent robots to more workplaces and help build a future where people and robots accomplish more together."
What Comes After Digit
Johnson signaled that Agility intends to expand beyond bipedal robots. The Robot Report, which broke the news in September that Agility was exploring wheel-based robots, noted that Johnson discussed the shift in the company's investor overview.
"We're exploring other form factors better suited to work in more consumer-facing domains," Johnson said. "And whether that means a wheeled base or smaller bipedal form factor, our engineers build the best solutions for wherever hard work is done."
Co-founder and chief robot officer Jonathan Hurst, speaking during a social media "Ask Me Anything," was more specific about Digit itself: "Digit likely won't get wheels. But wheeled robots are absolutely in our exploratory roadmap for a family of robots that focus on being human-centric and multi-purpose."
Johnson also suggested Agility could license its intellectual property to other humanoid developers, positioning the company as a potential technology supplier to the broader industry. "We envision Agility becoming the backbone of the humanoid industry as the category begins to scale into new markets and use cases," she said.
Why the Listing Matters for the Industry
Until Thursday, investors who believed in humanoid robotics had no pure-play public vehicle: the leading builders — Tesla, Figure, Boston Dynamics (owned by Hyundai), 1X, Apptronik — are private or subsidiaries of larger companies. Agility's listing creates the first standalone market test of the sector's economics, complete with quarterly disclosures that will expose metrics the private market never had to publish.
The reaction from within the industry was celebratory. "At a time when robotics headlines are too often dominated by hype and flashy demonstrations, Agility has focused on the hard work of putting robots to work," said Nicolaus Radford, co-founder and CEO of Persona AI. "Jonathan and his team have helped turn the promise of humanoid robotics into a commercial reality."
Samuel Reeves, founder and CEO of FORT Robotics, framed the milestone around safety: "To build a billion-dollar robotics industry, you need robots that people trust enough to work alongside. Their IPO is a win for Agility and a powerful signal that safety and commercial success go hand in hand."
The stock's early trading — a modest premium over the SPAC reference price — suggests measured rather than euphoric demand, coming days after a broad selloff in AI-related equities. How AGLT trades through its first earnings cycle will give the industry its clearest signal yet of whether public markets are ready to fund physical AI at scale.
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