# Agility Robotics Digit earned $1.78 million in 2025, its merger filing with Churchill Capital Corp XI shows

URL: https://onticpost.com/agility-robotics-digit-revenue-spac-filing/
Published: 2026-10-05
Updated: 2026-10-05
By: Hill, Onticpost

> Agility Robotics Digit made $1,782,000 of net sales in 2025, its merger filing shows, against a $138.1 million loss. One customer holds the $300 million order.

Agility Robotics, the Oregon company that makes the Digit humanoid, reported net sales of $1,782,000 for the year ended December 31, 2025, in a Form S-4 registration statement filed with the US Securities and Exchange Commission on September 4, 2026. The filing was made by Churchill Capital Corp XI, the blank-cheque company Agility plans to merge with. It carries the audited accounts behind Agility Robotics Digit for 2025 and 2024. An amendment filed on September 30, 2026 adds the first half of 2026: net sales of $174,000 against a net loss of $361.9 million. We have not tested Digit, and every figure here is copied from the two filings or from Agility’s own press release.

**Takeaway points**

- The filing states that Agility’s net sales were $1,782,000 in the year ended December 31, 2025, with a net loss of $138.1 million for the same year.
- The $300 million of Digit 5 orders comes from one customer, covers 1,000 robots over a three-year term, and depends on contractual milestones and product features that Agility says it may be unable to meet.
- The filing gives no count of Digit robots at work and no name for the $300 million customer, and we have not tested Digit or its software.

## How much revenue does Agility Robotics Digit bring in?

Agility’s net sales were $1,782,000 in the year ended December 31, 2025, up from $310,000 in 2024, according to the statements of operations in the filing. Of the 2025 total, $1,132,000 was net sales to related parties, which the filing says came mainly from “sales of Digit robots to one investor during 2025.” A note to the audited accounts says two customers each accounted for 10% or more of revenue in 2025, and that together they brought in $1,550,360. By our division that is about 87% of the year’s net sales.

The amendment of September 30 adds unaudited figures for the six months ended June 30, 2026. Net sales fell to $174,000 from $625,000 in the same six months of 2025. The filing puts the fall down to $0.5 million of one-time robot sales in 2025. Cost of goods sold was larger than net sales in every period shown, so Agility made a gross loss each time.

| Agility Robotics, as filed | Year to Dec 31, 2024 | Year to Dec 31, 2025 | Six months to June 30, 2025 | Six months to June 30, 2026 |
| --- | --- | --- | --- | --- |
| Total net sales | $310,000 | $1,782,000 | $625,000 | $174,000 |
| Of which related parties | $34,000 | $1,132,000 | $57,000 | $121,000 |
| Cost of goods sold | $463,000 | $4,473,000 | $1,856,000 | $3,889,000 |
| Research and development | $53.4 million | $91.6 million | $45.0 million | $200.8 million |
| Net loss | $70.6 million | $138.1 million | $71.8 million | $361.9 million |

The filing lists four sources of net sales: direct sales of Digit and related hardware, robot deployment arrangements, Customer Acceleration Program engagements, and support services. The program began in late 2025. The filing says a customer pays a program fee of about $500,000 to take part, and that as of May 2026 Agility had signed four new customers to it.

## Where is Digit v4 deployed, and how many hours has it worked?

The filing says Digit v4 “is deployed or committed for deployment across nine customer facilities” and has logged more than 65,000 hours of operation in customer environments. A second passage dates the figure: as of May 2026, more than 65,000 hours “across nine committed customer facility deployments.” The wording matters. Nine is a count of facilities where Digit either works or is committed to work, and the filing does not split the two. It also gives no number of robots behind the 65,000 hours.

The list of customers changed between the two documents. The September 4 filing names Schaeffler, GXO, Toyota Motor Manufacturing Canada, Amazon and Mercado Libre. The September 30 amendment names the same companies without Amazon, in each of the passages where the first version listed it as a customer. Agility’s press release of June 24, 2026, which announced the merger, also listed four customers and not Amazon. The amendment still names Amazon as a strategic investor and still records, under related party arrangements, that Amazon paid a deposit of $367,500 in 2024 toward five robots priced at $1,050,000 in total. By our division that is $210,000 a robot. Neither document explains why Amazon was removed from the customer lists.

Digit is not the only humanoid being set to factory work this autumn. Boston Dynamics is [opening an application center for its Atlas humanoid at Hyundai’s Georgia plant](https://onticpost.com/boston-dynamics-atlas-metaplant-application-center/), which we report separately.

## What is the $300 million Digit 5 order, and what does a Digit 5 cost?

The $300 million is one order from one customer for 1,000 Digit 5 robots, and none of it is revenue yet. The filing says the orders “relate to 1,000 Digit 5 robots under a three-year term RaaS contract, which includes warrants issued to the purchaser that vest proportionately as robots are deployed.” RaaS is Robot-as-a-Service: Agility keeps ownership of the robot and the customer pays a recurring fee. A risk factor in the same document says “we currently have one customer that has committed to deploy $300 million of Digit 5” and that Agility “may be unable to meet such contractual milestones or deliver such product features and specifications and realize such revenue”. A footnote adds that the “figures are not a measure of current period revenue.” The filing does not name the customer.

By our arithmetic, $300 million across 1,000 robots and three years is $100,000 a robot a year. That sits close to the pricing assumption the filing gives for the service model, a monthly fee of $8,500, which is $102,000 a year.

The timetable moved between the two filings. The September 4 version says: “We anticipate the initial release of Digit v5 in late 2026.” The September 30 amendment says prototype units were unveiled on September 15, 2026, and that “Early access to Digit 5 is expected to begin in the first half of 2027”, with wider availability over the following six to nine months. The amendment also drops the “v”: the first filing calls the robot Digit v5 throughout and the amendment calls it Digit 5.

| Item | Form S-4, September 4, 2026 | Amendment No. 1, September 30, 2026 |
| --- | --- | --- |
| Name of the next robot | Digit v5 | Digit 5 |
| Timing | Initial release in late 2026 | Early access in the first half of 2027 |
| Amazon in the customer lists | Yes | No |
| Latest results shown | Year ended December 31, 2025 | Six months ended June 30, 2026 |

The filing also sets out what a Digit 5 is meant to cost. Agility assumes the robot will cost about $150,000 in parts to build at commercial launch. These are planning assumptions that Agility gave to Churchill’s board, labelled illustrative, and the filing warns that actual contract terms are subject to negotiation. They are the maker’s targets, not prices we have seen charged.

| Assumption in the filing | Robot-as-a-Service | Ownership |
| --- | --- | --- |
| What the customer pays for the robot | $8,500 a month, software and maintenance included | About $200,000 upfront |
| One-time deployment fee | About $25,000 | About $20,000 |
| Software and maintenance | Included in the monthly fee | About $36,000 a year |
| Assumed life of the robot | 5 years | 5 years |

The bill of materials is meant to fall with volume: about $75,000 a robot at 1,000 robots a year and about $30,000 at 10,000 a year. RoboFab, Agility’s factory in Salem, Oregon, is designed to produce up to 10,000 Digit robots a year, according to the filing. An illustrative schedule given to Churchill’s board ranges from about 800 Digit 5 robots produced after general availability to about 25,000 shipped in 2035. For a robot priced for the home instead of the warehouse, see our report on [Flourish One, a wheeled home robot, and its price](https://onticpost.com/flourish-one-home-robot-price/).

## How big are Agility Robotics’ losses, and how much cash does it have?

Agility lost $361.9 million in the six months ended June 30, 2026, and held $14.7 million of cash and cash equivalents on that date. Most of the loss is not cash. The filing cites about $252.5 million of incremental stock-based compensation expense, and net cash used in operating activities was $86.2 million for the six months. The accumulated deficit reached $675.0 million. In July 2026, after the period closed, Agility raised $100 million by selling simple agreements for future equity, the filing says.

Agility’s own management and its auditor both flag the risk. The filing says that, without counting the merger, Agility has concluded there is “substantial doubt” about its ability to continue as a going concern, and that Grant Thornton’s report on the 2025 and 2024 accounts carries a paragraph saying the same. Agility employed about 393 full-time staff as of June 30, 2026, in Salem, Pittsburgh and Fremont, California.

## What does the Churchill Capital Corp XI merger pay Agility Robotics, and does Foxconn lead it?

The merger agreement sets the consideration to Agility’s holders at $2,500,000,000, paid entirely in shares, and the filing does not name Foxconn as leading anything. Agility’s June 24 press release describes the same figure as a pre-money equity value of $2.5 billion and says the deal should bring more than $620 million of gross proceeds. That sum includes about $200 million from a private placement of shares at $10 each, known as a PIPE, which the release says is “led by Foxconn”.

The filing puts the PIPE at $201,025,000 and describes the buyers only as “certain investment funds”. Foxconn appears once in each version, in a list of strategic investors alongside NVIDIA, Amazon, SoftBank, Schaeffler and ABICO Group. So the claim that Foxconn leads the PIPE rests on the press release alone.

Churchill intends to apply to list the combined company on Nasdaq under the symbol AGLT. The filing says the deal is expected to be completed promptly after Churchill’s shareholders approve it. Those shareholders may redeem their shares whichever way they vote, and the filing’s maximum redemptions scenario assumes $200 million of available closing cash from Churchill.

## What has Agility not published about Digit, and have we tested it?

We have not tested Digit, Digit 5 or Agility’s Arc software, and nothing here is a finding of our own. We read the Form S-4 of September 4, 2026, Amendment No. 1 of September 30, 2026 and Agility’s press release of June 24, 2026. The only sums of ours are the three divisions marked as such above.

Several things are missing from those documents. The filing does not say how many Digit robots are working, or how many of the nine facilities are live as opposed to committed. It does not name the customer behind the $300 million order, or the investor that bought robots in 2025. It does not say why Amazon left the customer lists between the two versions. The date of the shareholder meeting is left blank in the amendment.

## Sources

- [Churchill Capital Corp XI, Form S-4 registration statement, filed September 4, 2026](https://www.sec.gov/Archives/edgar/data/2074973/000121390026097764/ea0297114-04.htm)
- [Churchill Capital Corp XI, Amendment No. 1 to Form S-4, filed September 30, 2026](https://www.sec.gov/Archives/edgar/data/2074973/000121390026105334/ea0297114-05.htm)