Funko did eliminate excess inventory and later reported that its physical destruction plan was completed—but its filings do not say the goods went to a landfill or establish that they were all Funko Pop! figures. The often-quoted $30 million figure is an accounting write-down, not a confirmed retail value or a count of collectibles.
What Funko announced in 2023
On March 1, 2023, Funko reported $246.4 million in inventory at the end of 2022, 48% more than a year earlier. The company said it planned to eliminate some excess stock in the first half of 2023, citing the need to bring inventory in line with distribution-center capacity and reduce fulfillment costs. Its projected write-down was approximately $30 million to $36 million. Funko’s 2022 results announcement describes the plan and its original estimate.
| # | Preview | Product | Price | |
|---|---|---|---|---|
| 1 |
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Funko POP! Rocks: Michael Jackson - Thriller | $22.99 | Buy on Amazon |
| 2 |
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Funko POP! Disney Lilo & Stitch - Stitch with Ukulele | $11.99 | Buy on Amazon |
| 3 |
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Funko POP! Movies: Ghostface | $12.90 | Buy on Amazon |
| 4 |
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Funko POP! NBA: Bulls - Michael Jordan (3X in a Row) | $21.93 | Buy on Amazon |
| 5 |
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Funko POP! Movies: Friday the 13th - Jason Voorhees | $12.90 | Buy on Amazon |
What the $30.3 million figure represents
Funko’s 2023 Form 10-K later recorded a $30.3 million inventory write-down for the quarter ended March 31, 2023. The company said the estimate included product costs, associated capitalized freight, allocated reserves, and estimated physical destruction costs. That figure is therefore an accounting amount—not a count of items and not a confirmed retail price for the goods.
The filing does not provide a product-level breakdown showing how much of the inventory consisted of Funko Pop! figures, or identify the individual products involved. It also does not name a destruction site. The SEC-filed 2023 Form 10-K documents the write-down and the company’s subsequent disclosure about the destruction plan.
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When the destruction plan was completed
The 10-K says Funko completed its physical destruction plan during the third quarter of 2023. It does not specify the disposition method beyond physical destruction. In particular, the filing does not establish that the goods were sent to a landfill; that destination should not be presented as a confirmed fact.
Why Funko said it was disposing of inventory
Funko tied the inventory action to warehouse capacity and the costs of handling excess stock. In its August 3, 2023, second-quarter results release, CFO and COO Steve Nave said: “To date, we’ve made excellent progress on the disposal of inventory that was in excess of our warehouse capacity, which has enabled us to process customer orders more quickly and eliminate certain related storage costs and container rental charges.” The release records the company’s stated operational rationale.
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How the figures fit with Funko’s later inventory disclosures
Funko reported $119 million in inventory at December 31, 2023, compared with $246 million at the end of 2022. It also reported $39.0 million in 2023 non-recurring gross-profit charges related to disposal of excess inventory and finished and unfinished goods at offshore factories. These broader year-end figures describe more than the specific $30.3 million write-down and should not be treated as the value of the same batch of goods. Funko’s 2023 full-year results provide that later context.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Why headlines called it “$30 million worth” of Funko Pops
Coverage at the time used punchier shorthand. For example, a March 6, 2023, CBS News report described Funko Pop products being trashed. But the company’s disclosures use inventory-accounting terms and do not confirm the landfill claim, a retail-value total, or that every destroyed item was a Pop! figure. The documented event is narrower: Funko planned a substantial inventory reduction, recorded a $30.3 million write-down, and reported completing a physical destruction plan in Q3 2023.
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