Sarine Technologies - Growing importance of recurring revenue

Following a considerable oversupply of polished diamonds in H217, conditions in the midstream market have returned to normal post the holiday selling season, as expected. Sarine was able to post a slight increase in sales in Q118 vs the previous year on the back of higher recurring income from its inclusion mapping systems. Equipment sales were largely focused on systems for smaller stones, including the recently launched Meteorite system. Going forward, management expects increased adoption of its comprehensive offering including Sarine Profile, the light performance grading tools, Sarine Diamond Journey and the AI-based 4C grading reports to further drive recurring revenue.