Not every picture is worth 1,000 words, but sometimes three graphs deserve a few hundred.
I recently stumbled upon a treasure trove of ultramarathon finish stats from UltraRunning.com and wanted to see what stories the numbers might tell.
I plotted the data into three different charts. For each, I’ll share what stood out and what it could mean for the present (and future) business of trail (and ultra) running.
A Few Caveats
Before we dive in, I wanted to note a few details:
2025 numbers are annualized from average weekly figures. Seasonality makes this imperfect, but good enough for a snapshot.
No need to annualize 200-milers (no races remain this year).
The COVID cliff is obvious. 2020 fell off, 2021 rebounded, and 2022 onwards marks a new normal.
Data represents North American ultramarathon finishes. Not every ultra is on trail, and not every trail race is an ultra, but there’s enough overlap to be relevant.
Total Ultramarathon Finishes by Year (2000-2025)
Total ultramarathon finishes have climbed steadily since 2000, with the lone exception of the 2020 shutdown. Due to COVID lockdowns, many permits were denied and races were canceled, causing a severe decline in the data in 2020 that didn’t fully recover until 2023.
Still, the racing scene continues to grow and thrive, with it being possible that 2025 is the first year in which there are more than 150,000 North American ultramarathon finishes. But that’s not the only interesting takeaway.
Insight #1: Record-High Finishes, Unique Runners, and First-Timers
Finishes (blue bar), unique runners (red line), and first-timers (yellow line) are all rising year-over-year. (Not included in the chart are the total number of events and races1, which will soon surpass 2,000 and 3,000, respectively on an annual basis.)
This suggests that trail running has proven structurally resilient. Despite the 2019 surge and subsequent pandemic crash, participation has rebounded and broadened. People who find trail running seem to be sticking around, as evidenced by the continued growth in finishes and unique finishers. Further, more and more new runners are joining the sport each year, as evidenced by the growth in first-time ultra finishers.
💡 This steady participation base is investable. Brands, race series, and coaches can expand confidently, knowing the sport’s floor is high. Demand for gear, coaching, and education is likely to grow alongside the runner base.
Insight #2: Double-Digit First-Time Finisher Growth Since 2019
In 2024, 41,965 (28.6%) of the 146,903 total finishes came from first-timers. So far in 2025, that number is 37,399 of 137,391 (27.2%), on track to pass 40,000 again.
A new customer pipeline is opening. This growth in first-timers represents new entrants who may not yet have chosen their go-to nutrition source, hydration pack, trail shoe, or coaching solution.
💡 Each of these new entrants to ultrarunning could benefit from education and dedicated on-ramps. There’s opportunity here for brands to meet runners where they’re at and become one of the first trusted relationships in an ultrarunner’s lifetime journey.
Insight #3: Finishes are Growing Faster Than Number of Races
Since COVID, finishes-per-runner has held steady around 1.50, so this growth isn’t necessarily coming from people racing more often.
Perhaps, then, this implies a more experienced, better educated, and more committed customer base. In other words, runners (even first-timers) are better prepared for their races or at least have better finishing success.
Or maybe it’s just as simple as races allowing more entrants and thereby achieving a greater number of finishers per race? This bears out somewhat in the data, as the average finishers per race has increased from 43.6 to 46.6 to 48.8 between 2022 and 2024, and is currently at 47.0 in 2025.
💡 The opportunity isn’t more races, but better ones. Focus more on improving race quality and experience vs. increasing number of events or distances. Runners want quality, logistics, and support. Coaching, recovery, and performance tools that help improve finish rates may also be increasingly valuable.
Growth Rate by Ultramarathon Type (2023-2025)
I wanted to get a sense of how each ultramarathon race distance was growing in recent years (really since the COVID recovery), so I compared recent growth rates since the post-COVID rebound for the five most common distances: 50K (blue), 50-Mile (red), 100K (yellow), 100-mile (green), and 200-mile (orange).
Insight #4: 200-Milers are Growing the Fastest, 50-Milers Flat
It’s no surprise that 200-milers are the sport’s fastest growing distance, albeit from a very small base. The 200-mile distance is in its early growth phase. As the sport as a whole matures, runners seek out new frontiers.
The 50-mile distance, meanwhile, has plateaued after years of decline. I suspect this is due, at least in part, to the rise in popularity of the 100K distance and its association with Western States and UTMB qualifiers. Historically, some 50-milers were used as Western States qualifier races, while Lake Sonoma 50 was a WSER Golden Ticket race. Now, all WSER qualifiers are 100K or longer, which has left the 50-mile distance in a bit of a no-man’s-land.
💡 The frontier of trail and ultrarunning is expanding. Multi-day events bring new opportunities, including more robust packs, sleep kits, power solutions, and gut-friendly nutrition.
We’re already seeing live coverage of multi-day events taking off. Could there be an opportunity to build travel packages aimed specifically at reducing logistical hassle for multi-day race participants?
Male/Female % of Ultramarathon Finishes (2000-2025)
Insight #5: Women Comprise Roughly 1/3 of Ultramarathon Finishers
The gender gap is narrowing, but slowly. The share of female finishers rose from under 25% in 2000 to 33.8% in 2018, where it’s held steady around 1/3 since.
This plateau suggests systemic barriers still remain. I can’t speak for women runners, but a few obvious potential barriers that come to mind include: childbirth, childcare, and safety (especially while training alone). Unlocking growth in this segment could be key to fueling the growth of trail and ultrarunning in the years ahead.
💡 Growth in women’s participation may be the sport’s biggest untapped upside. Races and brands that authentically invest in women-focused experiences can unlock long-term growth.
Think Lululemon’s Further Project or women-led media like the Trail Society Podcast and Trail Network Podcast. Every percentage point increase in women’s participation in trail and ultrarunning is a net positive for the sport.
Looking Ahead
As we look toward the future, the next wave of growth won’t come from more races. The future of trail and ultrarunning will be driven by some combination of:
More diverse participants and distances
Smarter preparation and recovery tools
Higher-quality race experiences
The business upside now lies in supporting those ideas. Education for first-timers, effective performance and nutrition resources, and infrastructure that makes every race feel worth returning to.
I’m curious what stood out to you. Drop your observations in the comments.
The Aid Station
Miscellaneous quick hits. Trail style. Actionable, digestible, essential.
🎥 Recommended Podcast: Movemint’s Zack Isaacs on Long Run Labs
The fascinating story of how Movemint started as an NFT platform for athletes, pivoted to race organization tool, and has built an intentional culture from day one. There are so many good nuggets in this interview.
📹 “FIVE LOOPS — A SHORT FILM ABOUT TOMMIE RUNZ AT THE 2025 JAVELINA HUNDRED 100 MILE ULTRA MARATHON”
More Sean Haworth content. Count me in. This short film documenting Tommie Runz’s Javelina Hundred is inspiring on so many levels. I highly recommend taking the time to give it a watch. Congrats to Tommie on an amazing run!
An event can have multiple races. Think of Mammoth Trailfest, which is a singular event with several races.
Thanks for sharing - I love nerding out on these stats. I'd be curious to see how many finishes by distance. Certainly the growth in 200s is remarkable (though the n is still relatively small). I also checked the estimated Marathon finishes in North America. That number hovers around 650K (500K US, 150K Canada; data for Mexico N/A). I was shocked that the delta between ultra and marathon isn't that large (4x). As the sport grows, I hope that ultras can still keep their grassroots feel. Because it's the community that makes these things special.
This is so interesting Seth. I was googling about this topic this morning and your piece came up first (a win for AI-driven google, and I don't say that often!) I wonder how much you think social media/influencers plays a role in the growth, and will in the future. I think about big names like Andy Glaze and who have no doubt brought hundreds (maybe thousands!) of people into the sport just through motivating content and making the sport seem more doable/accessible.