Sarine Technologies Ltd., a leader in precision technology for the diamond and gemstone industry, reported revenues of US$15.3 million for the first half of 2025, down 30% year-on-year, as global demand for natural diamonds remained under pressure from lab-grown alternatives and weak consumer sentiment in China.
Despite the revenue drop, Sarine posted positive cashflow and limited its net loss to US$0.2 million, supported by cost-cutting measures, relocation of manufacturing to India, and growing adoption of its recurring-revenue services such as the Most Valuable Plan (MVP) and GCAL grading labs. EBITDA for the period stood at US$1.6 million.
Sarine highlighted continued erosion in lab-grown diamond prices, prompting some US retailers to reassess their LGD offerings. The company expects stable natural diamond demand at current levels, but noted that recently imposed 50% US tariffs on Indian diamond exports could disrupt the market ahead of the year-end season.
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