Sarine expands grading services to the lab-grown diamond market

Sarine Technologies Ltd is expanding its pay-per-plan (PPP) MVP program to cover a wider range of diamonds to generate recurring revenue. Additionally, Sarine is capitalising on the growing LGD market by expanding its grading services and rough planning solutions.

Rigorous cost-cutting measures have been implemented to optimise operations and improve financial performance. For the nine months ended 30 September 2024, Sarine generated revenue of $30.6 million, with a negligible loss of $0.2 million.

The company generated over $7 million in net cash from operating activities during this period. While the short-term outlook for the natural diamond market remains uncertain, Sarine is optimistic about its long-term prospects. The company expects continued growth in its recurring revenue streams and is well-positioned to capitalise on emerging trends, such as diamond traceability. Sarine’s focus on innovation, cost management, and strategic initiatives positions it to weather the current market storm and emerge stronger.