Agility made $1.8M revenue on $140M loss ahead of $2.5B SPAC
kscottz · x · 2026-09-09
Agility Robotics' S-4 filing reveals its finances ahead of a SPAC merger with Churchill Capital Corp. XI: just $1.8 million in 2025 net sales against a $140 million operating loss, with operating spend up from $71M in 2024 to $111M, and roughly $100M cash burned in 2025.
- The SPAC values Agility at $2.5 billion — about 1,400x annual revenue — and is expected to generate over $620M in gross proceeds ($420M from Churchill's trust plus a $200M PIPE led by Foxconn); - Its Digit humanoids have logged 65,000+ operating hours across 9 customer sites, with over $300M in multi-year Digit v5 orders from a single customer.
For context, Unitree listed on Shanghai's STAR Market in mid-August, closing its first day 460% higher after raising $905M, while Figure, Apptronik and 1X have raised at high valuations without opening their books.
Related event: Agility Robotics S-4 filing reveals $2.5B valuation vs. $1.78M revenue(5 posts)→
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