Funko plans to send $30 million worth of its vinyl figurines to the trash.

The Washington-based company, known for its toys depicting pop-culture icons, cited ballooning inventory and limited warehouse capacity as the reasons behind the move last week in its fourth-quarter earnings report.

By the end of 2022, Funko's inventory totaled $246.4 million, up 48% from a year before.

Funko "intends to eliminate" the excess toys in the first half of 2023 to "reduce fulfillment costs by managing inventory levels to align with the operating capacity of our distribution center," the company said. The move could cost between $30 million and $36 million.

Funko Pop! collectible figures are known for their short stature, square heads, and large button eyes. The toys depict pop-culture figures from Disney characters to musicians to athletes.

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Sales in Funko's core collectibles category fell 6.6% between 2021 and 2022. And the company's income fell 108% to $5.2 million in fiscal year 2022 compared to 2021, according to the earnings report.

Still, the company reported a 37% growth in direct-to-consumer sales by the end of its fourth quarter.

"During the fourth quarter and in early 2023, we have made progress in addressing operational issues that impacted our results in the second half of 2022," CEO Brian Mariotti said in a statement. "We are gratified that the Funko brands continue to see strong consumer demand from our incredibly loyal and resilient global fanbase."

This article originally appeared on USA TODAY: Funko Pop! figures hit landfill: company to trash $30 million worth