News: BIG Big Un says FY revenue from ordinary activities $14 million, page-103

Deferred revenue reflects that the customers have prepaid (in cash) for services which the company will provide later (and will, one presume, generate a gross profit on that revenue). Deferred revenue is very common for SaaS companies where their model is to be paid up front as is the case with BIG - they will recognise the revenue in the Income Statement over the life of the contract/when service is delivered. BIG's accounts have classified the deferred revenue as a "current liability" which means that this revenue is expected to be recognised in the FY18 year. Hope this clears up this issue.

For a startup like BIG, to generate +ve cashflows is far more important than accounting profits.

Also, if you look at how SaaS companies are valued by institutional investors, it is on free cashflows, *not IFRS accounting profits*.