Well, if it really made a thump, then you may have a failure.
Buuuuttt.....
I will tell you that on the Pio receiver remotes there is a button called "signal select" or something similar. If you hit that button, there is a good chance that you will get no audio suddenly!!!
It selects amongst auto, digi, or analog signals. So for example, if you are feeding a digi signal and hit signal select by mistake and tell it to expect analog, then you get no audio!
It took me quite a while to figure that out when it first happened to me on my Pio.
So, check that. If not, then do a factory reset before you trash the Pio.