BLOOMINGTON, Ill. (WMBD)– Rivian had a better-than-expected Q1 as it released its shareholder newsletter on Tuesday.

Revenue generated is approximately $661 million with 7,946 vehicles delivered.

Share losses were expected but weren’t as debilitating as predicted. Shares lost $1.25 of value compared to the $1.59 loss that was projected.

Rivian had recently been in the headlines for laying off 6% of its workforce.