Agility Robotics Debuts at $2.5 Billion on $1.8 Million of Revenue, With Digit 5 Deliveries Not Due Until 2027

Agility Robotics closed its first day on Nasdaq at $11.49 on Nov. 5, giving a company that reported $1.8 million in revenue a $2.5 billion valuation, roughly 1,390 times that revenue.

The ticker is AGLT, and the listing came through a merger with the blank-check company Churchill Capital Corp XI. The Robot Report recorded an open of $11.26, a high of $12.15 and a low of $8.40. MMH, which carries the company's announcement, gives the close as $11.51. The two figures differ by two cents and neither source explains why.

What the first day of AGLT trading actually showed

The headline comparison is the close against the $10 per-share price used in the merger, and on that basis the stock finished about 15% above it. The number that matters here is not the close but the range: the low of $8.40 was 16% under the $10 reference, and the high of $12.15 was 21.5% over it, all inside one session.

The backdrop was bad. The Robot Report put the Nasdaq down 5.52% on Nov. 5, the S&P 500 down 4.36% and the Dow down 3.44%. A stock that ends a day like that above its issue price has beaten the tape, but one session says little about where it settles. The company also listed warrants under the ticker AGLTW.

1. Day low8.4 USD
2. SPAC price10 USD
3. Open11.26 USD
4. Close11.49 USD
5. Day high12.15 USD

Source: The Robot Report, accessed 2026-11-08

The $300 million order book and the 2027 delivery date

Agility says it holds more than $300 million in committed multiyear orders for Digit 5. Both sources attach the same qualifier: the orders are subject to contractual milestones, product features and specifications. The Robot Report adds that deliveries to early-access customers are expected to begin in 2027.

That sequence is the whole argument. An order that depends on a robot meeting a specification, for a robot that has not been delivered, is a negotiated expectation, not backlog in the sense an industrial buyer would use the word. Set against the $1.8 million of reported revenue, the orders are about 167 times larger than anything the company has so far billed, and the valuation is about 8.3 times the orders even if every one converts.

Figure	Value	Source
Reported revenue, prior fiscal year	$1.8 million	MMH
Committed multiyear Digit 5 orders	More than $300 million	MMH, The Robot Report
Gross proceeds from merger and financings	About $465 million	MMH, The Robot Report
Valuation at listing	$2.5 billion	MMH

The $465 million is before transaction expenses, according to MMH, so the cash that reaches the balance sheet is lower by an amount neither source gives. Neither source states a cash balance, a burn rate or a per-unit price for Digit 5, which is the denominator that would turn orders into a unit count.

What is deployed today: GXO, Schaeffler and Toyota Canada

The deployment evidence is thinner than the order figure. MMH lists GXO, Schaeffler and Toyota Motor Manufacturing Canada as current Digit customers. The one usage number in the announcement is from GXO's Georgia site, where Digit has moved more than 100,000 totes.

Neither source gives the length of the Georgia deployment or the number of robots working it, so the total cannot be turned into a daily rate or compared with a human worker.

The next commitments are dated. GXO will put Digit into two more U.S. logistics facilities in early 2027, and AGCO has signed a commercial agreement for a pilot expected to begin in 2027. Three more customers sit in paid programmes that MMH describes only as a major global automaker, a large automotive technology and components developer and a leading global consumer products manufacturer. None is named, so none can be checked. The pipeline is more than 30 prospective customers across automotive, manufacturing, aerospace, logistics, consumer products and defense.

For comparison, Serve Robotics reports 917 robots on the road daily against a $59.2 million quarterly loss, and Zipline's valuation leans on 300 Walmart sites with no start date. Agility sits in the same pattern, with a bigger multiple and a smaller fleet count.

What Digit 5 is claimed to do

Agility says Digit 5 can lift up to 50 lb and is designed to work in closer proximity to people than earlier Digit versions. Onboard compute is to be standardised on NVIDIA IGX Thor, with FORT Robotics supplying industrial safety systems. According to MMH, Nyobolt battery technology allows a nine-minute recharge and more than 20 hours of productive work in a 24-hour day.

All of those are company figures, and none comes with a test condition: payload at what reach, duty cycle at what task, recharge to what state of charge. Chief executive Peggy Johnson said in the announcement, "Today marks an important milestone for Agility, but the bigger story is what it means for the future of work." The Robot Report also notes that Agility has explored wheel-based robots and that Johnson mentioned a possible smaller bipedal form factor, which would be a second hardware programme before the first has shipped.

What would change this read

The argument rests on a gap between a price set on Nov. 5 and a robot that arrives in 2027. Two things would narrow it: a disclosed per-unit price for Digit 5, and a filing that shows how much of the $300 million has cleared its milestones. A cash figure after expenses would settle how many quarters the company can fund before delivery. Until one of them appears, the first-day close tells a reader how the market felt on a bad Thursday, not what a Digit is worth.

The next fixed date in the record is early 2027, when GXO's two additional sites are due to start and Agility's early-access deliveries are expected to begin.