Deferred revenue reflects that the customers have prepaid (in...

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*.