Agility is the first pure humanoid robot company on the stock market. Are you buying?

Agility Robotics began trading on Nasdaq today after a reverse merger through a special purpose acquisition company, becoming the first publicly traded company focused purely on humanoid robots. The transaction raises $465 million in new capital from retail investors and a tranche of private funding — a notable turn for a company that Figure AI CEO Colby Adcock had predicted less than a year ago would be "bankrupt in <12 months."

The listing caps a long road for Agility, which spun out of Oregon State University in 2015 from research on bipedal walking. Rather than chase viral demos, CEO Peggy Johnson said the company stayed with "manual, very repetitive jobs" that are hard to staff. Its Digit robots already work for nine customers, including Schaeffler, GXO, Toyota Motor Manufacturing Canada, and Mercado Libre, moving more than 100,000 totes at one GXO facility alone.

But the financials are stark: Digit generated just $174,000 in revenue in the first half of 2026, mostly from related parties, against a $362 million loss in the same period. That gap puts pressure on the company to deploy its new capital quickly.

The pipeline offers some hope. Agility has $300 million in planned contracts from 30 customers for Digit 5, a new model that can operate safely around humans rather than inside an isolated work cell — a limitation shared by most competing humanoids. Johnson called that deal pipeline "one of the driving factors" behind going public, though she declined to name customers or say whether they are also investors. Digit 5 prototypes have not yet been shown; Johnson said they will appear at CES 2027 and ship widely at the end of that year. Contracts require hitting undisclosed throughput, uptime, and placement-accuracy targets.

Agility's economics pitch is that a robot saves customers $100,000 annually under a robot-as-a-service model, more if purchased outright. Prospective buyers must spend $500,000 on an on-site proof of concept before full deployment; four customers had signed up as of May 2026. Digit can lift 50-pound objects repeatedly with 98% placement accuracy, but still lacks complex manipulation skills common across today's robots.

What to watch hinges on two open questions: how fast Agility converts its Digit 5 pipeline into revenue, and how quickly the robot's capabilities improve to hit contract thresholds. Whether the unit economics survive contact with reality depends on task accuracy and how long Digit 5 can run between recharging and maintenance pauses.