Agility is public: the short list of humanoid robot stocks, and who's next

Hello AGLT

Agility Robotics started trading on Nasdaq this morning as AGLT. That makes it the first U.S.-listed pure-play humanoid robot company with paying customers, and it joins a very short list of humanoid companies anyone can actually buy.

"We've checked all the boxes, dotted all the I's and T's, and we're good," CEO Peggy Johnson told me two days before the listing. See our full conversation in the video above.

Here's the deal at a glance, what Agility's filings show, and where it sits in the public and private humanoid landscape.

The deal

• Route: SPAC merger with Churchill Capital Corp XI, closed November 4
• Ticker: AGLT (common), AGLTW (warrants)
• Valuation: $2.5 billion pre-money
• Gross capital: about $465 million: $201 million PIPE (private investment in public equity) led by Foxconn, $164 million from the SPAC trust, $100 million raised after the June announcement
  
• Lock-up: existing shareholders, including NVIDIA, Amazon, SoftBank Vision Fund 2, Schaeffler and Foxconn, rolled 100% of their equity with a 180-day lock-up
• Orders: $300 million+ in committed multi-year Digit 5 orders, subject to milestones
• Operating record: 65,000+ hours of real-world operation over nearly three years

I covered the Digit 5 launch with Johnson in September, and the SPAC deal itself when it was announced in June.

What the filings show

This is the first time a U.S. humanoid company has had to put audited numbers in public, and they're about what you'd expect for the category.

Agility did $1.8 million in revenue in 2025 and posted a $138.1 million net loss. More than half of that revenue came from five robots bought by one of its investors. In the first six months of 2026, revenue was $174,000, mostly from related parties.

So the valuation rests on the order book and on Digit 5, not on current revenue. Johnson didn't hide from that. Agility's quarterly reporting will center on customers, deployments and new verticals, she says, and the pitch is that the problem is universal.

"Anybody who moves product around … has a need for this," she told me.

Who else is public

The list of directly listed humanoid makers is still tiny, and Agility is the only one in the U.S.:

• Unitree (Shanghai STAR Market, 688836): listed in August and closed its first day up 460%. It sells quadrupeds as well as humanoids.
• UBTech (Hong Kong, 9880): listed since late 2023, and has the largest audited humanoid revenue in the sector.
• Faraday Future (Nasdaq, FFAI): an EV maker that now also sells humanoid and quadruped robots.

Then there are the proxies, big companies with humanoid programs buried in much larger businesses: Tesla (Optimus), Xiaomi, XPeng, and Hyundai, which now owns 100% of Boston Dynamics after buying out SoftBank's stake in July.

The private heavyweights

Agility's $2.5 billion valuation is modest next to its biggest private rivals:

• Figure: about $39 billion post-money, and now spending $8 million a week on training data
• AgiBot: the world's biggest humanoid shipper by units, at a reported ~$7 billion in recent talks
• Apptronik: about $5.5 billion, with Google DeepMind as a partner
• 1X: focused on NEO for the home
• Boston Dynamics: Atlas, inside Hyundai

Who's next

AgiBot is the closest humanoid robot company to going public next. It started its Hong Kong IPO process in July, targeting a $5.1 billion to $6.4 billion valuation. It also already controls a Shanghai-listed company, SWANCOR New Material, though it denies that's a backdoor listing.

(But extra doors are always nice!)

China's second wave is right behind. Chinese industry reporting counts 20 to 30 humanoid and component companies in IPO coaching, filing or submission across 2026 and 2027, including Robot Era, Galbot, Fourier, Leju and Deep Robotics.

Figure is the most-cited U.S. candidate, but nothing has been filed.

Apptronik hasn't announced a timeline.

Boston Dynamics is further out than many expected. A senior Hyundai executive told Reuters an IPO is unlikely in 2027, and one Korean analyst expects 2029 or 2030.

What to watch

• Agility's first quarterly report: the first public, audited look at deployment and order progress from any U.S. humanoid maker
• Digit 5 early access: first half of 2027, with general availability targeted for the end of 2027
• The lock-up expiry: 180 days from the November 4 close puts it in early May 2027, when existing investors can start selling
• AgiBot's Hong Kong pricing: the next big public valuation marker for the industry

The bigger picture: as of today, China has two directly listed humanoid makers and a couple dozen more in the queue. The U.S. has one. 

How AGLT trades over the next few quarters will likely decide how fast that number grows. And, it will have at least some influence on how easy or difficult it will be for humanoid robot startups that don't want to go public yet to raise private funding.