Agility says its new humanoid is designed to work beside people without external safety barriers.

That matters more than whether the robot can dance.

Digit 5 is designed to operate near workers rather than being confined behind the external barriers commonly used around industrial automation.

A robot confined to a separate work cell can automate a station.

A robot that can operate throughout a human-designed warehouse could address far more workflows.

Agility says its Digit robots have accumulated more than 65,000 operating hours, producing real-world data that improves its AI systems.

The company also reports more than $300M in multi-year Digit 5 orders.

But investors need to read the footnote.

Agility's SEC presentation says the figure relates to approximately 1,000 robots under a three-year Robot-as-a-Service arrangement and remains subject to contractual milestones.

It is not current revenue.

Agility plans to go public through Churchill Capital Corp XI ($CCXI ). If the merger closes, the combined company is expected to trade as $AGLT.

The money mechanism is straightforward:

More successful deployments could produce more Robot-as-a-Service, software and service revenue.

But Digit 5 is still in development, some safety features remain unfinished, and the merger has not closed.

So I wouldn't buy $CCXI because the robot looks impressive.

I'd watch whether Agility converts the $300M order headline into deployed robots, completed milestones and recognized recurring revenue.

The humanoid gets the attention.

The investment test is whether cooperative safety turns orders into revenue.