Israel-based Sarine Technologies Ltd reported a 25% decline in revenue to $29.6 million for the year ended 31 December 2025, with the company posting a net loss of $3.9 million compared to a net profit of $1.1 million in 2024, as disruption from lab-grown diamonds (LGD) and weak consumer demand weighed on the natural diamond pipeline.
India remained the company’s largest market, contributing $14.8 million (65% share) in revenue in FY2025, down 23.8% from $19.4 million in 2024, reflecting reduced polishing activity and lower throughput across the midstream segment.
The firm said FY2025 remained challenging for the natural diamond polishing sector, particularly due to LGD gaining market share in the US, where 61% of engagement rings were LGD in 2025, along with subdued consumer sentiment in China. Lower volumes of natural diamonds moving through the value chain led to weaker capital equipment sales and Galaxy-related scanning revenues.
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