)
Lucara Diamond Group (LUC) investor relations material
Lucara Diamond Group Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Sold 353,302 carats in 2025, generating $159.7 million in revenue, down from $203.9 million in 2024, reflecting lower sales volumes and the absence of large one-time diamond sales seen in the prior year.
Achieved key milestones in the Karowe Underground Project (UGP), with both production and ventilation shafts reaching final depth and over 2,000 days without a lost-time injury.
Recovered 772 Specials (diamonds >10.8 carats), including three stones over 1,000 carats and a rare 37.42 carat pink diamond, underscoring the resource's quality.
All operational and financial metrics set out in 2025 Revised Guidance were met.
Financial highlights
Operating margin was 52% in 2025, down from 61% in 2024, reflecting a 22% revenue decrease partially offset by a 3% reduction in operating expenses.
Operating cost per tonne processed was $27.15, a 3% decrease from 2024.
Cash balance at year-end was $31.9 million, with working capital of $33.6 million.
Net income from continuing operations was $26.1 million for 2025, down from $43.6 million in 2024.
Q4 2025 revenue was $34.5 million, with 101,842 carats sold.
Outlook and guidance
2026 revenue guidance is $100–$130 million, with 340,000–360,000 carats expected to be sold and recovered.
Operating cash costs per tonne processed are forecast at $27.50–$31.00.
UGP capital expenditure for 2026 is expected to be up to $110 million, with sustaining capital up to $11.5 million.
Ore processing will rely on stockpiled material until UGP development ore is available in 2027; full-scale underground production is planned for H1 2028.
Next Lucara Diamond Group earnings date
Next Lucara Diamond Group earnings date
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
Frequently asked questions
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Explore our global coverage
)
)