Sarine Sales Drop Amid Weak Market

Sarine Technologies recorded a loss for the first nine months of 2025 as demand fell in the natural-diamond manufacturing sector.

Revenue slipped 27% year on year to $22.3 million for the period that ended September 30, the Israel-based diamond-technology firm said last week. The company recorded a net loss of $500,000, including a loss of $100,000 due to its investment in Kitov.ai in the third quarter, it added. That compared to a $200,000 loss from January to September of 2024.

“The natural-diamond manufacturing industry continues to confront lower global demand, driven primarily by the competition from lab-grown diamonds, mostly in the key US market and ongoing weak retail luxury sales in China, exacerbated by uncertainties surrounding the import tariffs implemented by the US government,” the company said.

In August, Sarine announced it had completed the purchase of a 33% stake in Kitov.ai, which develops and sells inspection solutions to clients across various industries worldwide. The group also extended a convertible loan to Kitov.ai, which may be turned into additional equity under certain conditions, potentially increasing its stake in Kitov.ai to 51%.

This year, the company moved all production activities to its fully owned Indian subsidiary. This followed the transfer of most of its customer-support operations in 2024. As a result, it has substantially lowered expenses. The company will see the full benefit of these savings in 2026, it added.

Image: A Galaxy scanning machine. (Sarine Technologies)