I remember PLAY had more than $100M in annual revenues before it losts everything and sold itself to NVDA.
They had much more than that, $225M+ in 2005 and Q106 was also a very good quarter, with $72M+. But then in Q3, after the loss of the Nano, this happened:
PortalPlayer said:
The third quarter financial results we are reporting today are once again inline with our previous guidance, with revenue of $34.8 million. In the third quarter, more than 10% of this came from what we've termed other customers and we expect revenue from other customers to increase.
And this...
PortalPlayer said:
And before I turn the call back over to Gary, let me summarize our guidance for the fourth quarter. We expect revenue to be about the same as in the third quarter with a range of $31 million to $38 million.
So far so good, right? Then they got bought by NVIDIA and Q4 never got reported. But this was still said at NVIDIA's Q4 CC, keeping in mind that their Q4 ends on January 28th:
NVIDIA said:
We closed the purchase of PortalPlayer on January 5th, but the revenue contribution from Portal was not significant, approximately $1 million.
This surely was a one-time thing because of timing issues, right? But then in the Q1 CC (and this was roughly in line with the Q4 guidance)...
NVIDIA said:
PortalPlayer products accounted for $11 million in the quarter
[...]
We incurred a full quota of PortalPlayer expenses instead for the one month that was incurred in Q4. And this added about $10 million.
The expenses are what you'd expect, given that they were about $12.5M pre-acquisition and there might be some synergies at play. But the revenue? WTF?
I have yet to find a proper explanation to this. That amount of revenue would be just $6M from Apple if we expected non-Apple revenue to be flat, and a grand total of $0 from Apple if we expected non-Apple revenue to grow significantly. In either case, it doesn't make much sense to me. PortalPlayer's cash position remained roughly flat in Q4 too (because the net price was $160M, as expected) so there was no spike in this unreported quarter, as far as I can tell.
Maybe a very significant reduction in iPod Video production along with a reduction in ASPs... Still, weird.