Core Viewpoint - Boundless Group, an optical display module developer based in Nanjing, China, has filed for an IPO with the SEC, aiming to raise approximately $18 million by offering 4 million shares priced between $4 and $6 each [1]. Company Overview - Boundless Group specializes in AR/VR optical display technology and high-end optical zoom lens development, established in 2024 in the Cayman Islands, with operations through subsidiaries in mainland China and Hong Kong [2]. - The company focuses on developing optical display modules for virtual reality (VR) devices and other electronic applications, with core products including micro-lens arrays and freeform optical components, primarily used in consumer electronics, automotive displays, and industrial inspection [2]. Financial Performance - For the fiscal years ending June 30, 2024, and 2025, the company's revenues were $10.92 million and $26.2 million, respectively, indicating a revenue growth of 139.9% [5][6]. - The cost of revenues for the same periods was $10.3 million and $24.5 million, leading to a gross profit increase from $616,230 to $1.72 million, reflecting a growth of 179.4% [6]. - Operating expenses rose significantly, with total operating expenses increasing by 59.3%, from $2.11 million to $3.37 million, contributing to a loss from operations of $1.5 million in 2025 compared to $1.65 million in 2024 [6].