--- title: "Agility Robotics lost US$458.7m in nine months on US$361,000 of revenue" summary: "Agility Robotics’ first figures as a listed company, nine months to September: where a US$458.7m loss came from, who pays for its Digit robots, and what its listing raised." url: https://www.thetechbag.com/blog/agility-robotics-458m-loss-361000-revenue format: Note desk: "Markets & the AI economy" region: Global published: 2026-11-14 facts_checked: 2026-11-14 author: TechBag (The TechBag Journal) tags: ["Agility Robotics results","Agility Robotics stock","AGLT stock","Agility Robotics SPAC","Agility Robotics","Digit humanoid robot","Digit 5","humanoid robots","Churchill Capital Corp XI","stock-based compensation","SPAC merger","warehouse robots","Nasdaq","Form 8-K/A"] cover: https://www.thetechbag.com/blog/covers/agility-robotics-458m-loss-361000-revenue.png --- # Agility Robotics lost US$458.7m in nine months on US$361,000 of revenue *Agility Robotics’ first figures as a listed company, nine months to September: where a US$458.7m loss came from, who pays for its Digit robots, and what its listing raised.* Note · Markets & the AI economy · By TechBag · Published 2026-11-14 · Facts checked 2026-11-14 · Canonical: https://www.thetechbag.com/blog/agility-robotics-458m-loss-361000-revenue Agility Robotics, the Oregon company that makes Digit, a humanoid robot for warehouses and factories, lost US$458.7m in the nine months to September on revenue of US$361,000, a loss about 1,270 times its sales.[1] Revenue fell 79% from US$1.74m a year earlier, and it sold no robots in the period, against US$1.56m of robot sales in the same months of 2025.[2] The figures came after the US market closed on 13 November, its first since its shares began trading on Nasdaq as AGLT on 5 November, after a merger with a listed shell company.[1][3] US$458.7m net loss, January to September 2026, from US$97.7m SEC filing US$361,000 revenue in the same nine months, down 79% SEC filing US$314.8m stock-based compensation in the period, from US$28.4m SEC filing US$64.9m cash at 30 September, before the listing money arrived SEC filing ## Where the loss came from Selling and administrative costs rose to US$194.7m from US$34.3m, and research and development to US$244.7m from US$62.5m.[1] Most of the rise was stock compensation, and the filing explains why. Until 30 June, Agility’s employee options were booked as liabilities, because the company could buy back shares from departing staff. A liability is revalued at fair value every reporting date, so as the company’s valuation rose, so did the expense: US$139.2m more in administration and US$146.8m more in research. On 30 June it dropped the buy-back right and the awards moved into equity.[1] Stock compensation is not cash: operations used US$131.6m. Without it, the loss would have been about US$143.9m.[1][2] **Figure: Stock compensation was US$314.8m of a US$458.7m loss; revenue was US$0.4m** *Agility Robotics net loss, stock-based compensation and revenue, US$ million, nine months to 30 September, 2025 and 2026* Net loss, 2026 458.7 US$m Stock compensation, 2026 314.8 US$m Revenue, 2026 0.4 US$m Net loss, 2025 97.7 US$m Stock compensation, 2025 28.4 US$m Revenue, 2025 1.7 US$m | | Value (US$m) | | --- | --- | | Net loss, 2026 | 458.7 | | Stock compensation, 2026 | 314.8 | | Revenue, 2026 | 0.4 | | Net loss, 2025 | 97.7 | | Stock compensation, 2025 | 28.4 | | Revenue, 2025 | 1.7 | Source: Agility Robotics, Form 8-K/A, Exhibits 99.3 and 99.4 · as of 13 November 2026 · Unaudited figures of the company before its merger closed ## Who pays, and what the listing raised Agility either sells Digit or deploys it at a customer’s site while keeping ownership, billing over the service term. This year’s revenue came almost entirely from paid trials and services: Customer Acceleration Program engagements, which test Digit on a customer’s own tasks before a wider rollout, and professional services. Three customers paid 50%, 28% and 21% of it.[2] The filing names Schaeffler, GXO and Toyota Motor Manufacturing Canada among the companies where the current Digit is deployed. Its successor, Digit 5, was shown on 15 September; early access is due in the first half of 2027.[1] One customer, also a related party, will receive 453 share warrants for every robot it sources if it sources at least 1,000.[2] The listing was a merger with Churchill Capital Corp XI, a special-purpose acquisition company, at an equity value of US$2.5bn, or about US$10.29 a share. Holders of 25.5m of its shares took back US$261.8m in cash, leaving US$164.1m; with US$201.0m from new investors, gross proceeds were US$365.1m, plus US$100m raised through SAFE notes in July.[3][1] The filing says that before the deal there was “substantial doubt” about Agility continuing as a going concern; with the US$334.1m of net proceeds, management says it has cash for at least twelve months.[1] The shares closed at US$7.36 on Friday 13 November, 36% below the US$11.51 of their first day, and traded at US$7.19 after hours at 7:58pm New York time.[4] What to watch: the first deployments of Digit 5, and whether paid trials turn into robots sold or deployed. Another AI hardware maker’s filings, with revenue set against losses and a few large customers, are in [our Analysis of Cerebras](https://www.thetechbag.com/blog/cerebras-26-1bn-contracts-210m-revenue-openai). How we did this Figures as of 14 November 2026, 7:30pm IST Figures are from Agility’s Form 8-K/A of 13 November: the unaudited statements and management’s discussion of Legacy Agility, the company before its merger closed on 4 November, so they include none of the listing money. Deal terms and redemptions are from the closing 8-K of 6 November. The 1,270 times, the 99% customer share, the loss without stock compensation (US$458.7m less US$314.8m) and the 36% fall are our arithmetic. Share prices are Nasdaq’s quote data, not a company source; the first day as AGLT is 5 November, and earlier prices are the shell company’s. Spotted an error? Write to us; corrections are published at the foot of the piece. Sources 1. [Agility Robotics, Form 8-K/A, Exhibit 99.4: management’s discussion and analysis of Legacy Agility, nine months to 30 September 2026](https://www.sec.gov/Archives/edgar/data/2074973/000121390026119809/ea031195901ex99-4.htm) — 13 November 2026 2. [Agility Robotics, Form 8-K/A, Exhibit 99.3: unaudited condensed financial statements of Legacy Agility, nine months to 30 September 2026](https://www.sec.gov/Archives/edgar/data/2074973/000121390026119809/ea031195901ex99-3.htm) — 13 November 2026 3. [Agility Robotics (formerly Churchill Capital Corp XI), Form 8-K: completion of the business combination](https://www.sec.gov/Archives/edgar/data/2074973/000121390026116898/ea0311204-8k_churchill11.htm) — 6 November 2026 4. [Nasdaq: Agility Robotics (AGLT) historical prices and after-hours trading](https://www.nasdaq.com/market-activity/stocks/aglt/historical) — 5 to 13 November 2026 **Disclosure.** TechBag is a software reseller: it earns when companies buy through it, including from vendors named here. The analysis is TechBag’s own; no vendor paid for or saw this piece before publication. Facts are labelled reported, TechBag count or our view. **Read this next:** [Cerebras’s contract book reached US$26.1bn, 124 times its US$210.8m quarter](https://www.thetechbag.com/blog/cerebras-26-1bn-contracts-210m-revenue-openai) — Another AI hardware maker read from its filings: a US$224.1m operating loss on US$210.8m of revenue, with two customers at 72% of sales. Go deeper on TechBag - [China barred SoftBank’s US$5.375bn ABB Robotics deal only in China](https://www.thetechbag.com/blog/softbank-abb-robotics-china-only-ban) — the other robotics deal of November, and what remains of it - [Supermicro’s sales grew 298% at a 13% margin; Arista’s grew 58% at 64%](https://www.thetechbag.com/blog/ai-hardware-suppliers-revenue-who-keeps-margin) — growth and margin at hardware makers further along