Sarine Could Diversify as Losses Hit $3.9m

(IDEX Online) - Sarine reported a $3.9m loss for FY2025, as lab grown sales soared in the US and weak sentiment persisted in China.

The Israel-based diamond grading tech company saw full year revenue dip by 25% to $29.6m.

But it sees some cause for optimism. Moving its manufacturing and support operations to India shift will save around $1.5m a year, it says.

There are early signs of the natural diamond demand rebounding, and it is tentatively exploring diversification into opportunities beyond diamonds.

The company recently acquired a 33% share in Kitov.ai, a company pioneering AI-powered computer-aided design (CAD), as it aims to expand to non-diamond sectors.

It also says that as part of its diversification plans it is at the very preliminary stages of exploring opportunities related to industrial applications of lab growns, and possible partnerships with banks or lenders to help them offer loans to diamond, gemstone, and jewelry businesses.

Sarine dominates the rough planning market, and serves as an effective wellbeing indicator for the midstream diamond manufacturing sector.

"FY2025 was another difficult year for the natural diamond polishing industry," it says in its latest update. Lower quantities of natural diamonds flowing through the value chain directly impact its revenue.

"Capital equipment sales were depressed by contracting polishing activity in India, offset somewhat by new facilities opening in African producing countries."

Sarine's $3.9m loss for 2025 follows on from a small profit in 2024 ($1.1m) and a $2.8m loss in 2023.