Diamond NV-centre quantum technology has seen significant commercial success in quantum sensing, but its applications in quantum computing remain in the early stages of development, with limited qubit counts. Several companies are currently working with this technology, including those focused on quantum computing, sensing, materials, medical imaging, and precision timing. The commercial outlook varies across these segments, with quantum sensing showing the most promise. Companies such as those profiled in a recent guide1 are pushing the boundaries of what is possible with diamond NV-centre technology. As research and development continue to advance, the potential for diamond NV-centre quantum technology to revolutionize industries such as materials science and medical imaging grows. The progress of these companies will be crucial in determining the future of this technology. So what matters to practitioners is that investment in diamond NV-centre quantum technology could yield significant returns in the near future, particularly in the realm of quantum sensing.