Kogan.com (ASX:KGN) has announced significant progress in the sell-through of excess inventory during H1 FY2023, having reduced in-warehouse stock by 39% since June 30, 2022.

Kogan.com says the reduction supported growth in net cash to $74M, after having funded the Mighty Ape Tranche 3 payment of $14.2M, repaid loans and borrowings of $25M, and successfully acquired Brosa.

It also says the half saw Kogan First subscribers grow to 404,512 by December 31 (47.6% growth year-over-year), and Kogan Mobile Australia reach the most ever Active Customers in its history (4.2% growth year-over-year). 

Kogan.com's share price closed up nearly 3% today.