Cabel Sasser on the Panic company blog:
Panic is a multi-million dollar business that has turned a profit for 17 years straight.
It just hit me, typing those words, that that’s a pretty insane thing to be able to say. (And, sure, we barely qualify). Believe me, I know it won’t last forever – but wow, what a kind of crazy deal.
If you’re curious about some business stuff, our setup couldn’t be more cut-and-dry. We still have no investors or debt. The overwhelming majority of our revenue goes to employee salaries and benefits, which is just the way we want it. Then there’s our rent, our internet, some donuts and chips, etc. Anything left over goes into the magical Panic Savings Account for future projects or emergencies – we’ve always felt it was important to have some wiggle room for who-knows-what. (In the past we’ve actually reduced that warchest by simply distributing it to employees as a bonus.) We also continue to operate on standard office hours, avoiding weekends and crunchtimes with ferocious overprotectiveness, for better or worse. Maybe the most controversial thing we have is an open office, but since we have no sales or marketing teams things are usually library-quiet.
Panic is the gold standard for software development shops doing it right.