================================================================================

                     U.S. SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                    FORM 10-Q

     [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES
                              EXCHANGE ACT OF 1934



                  FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2001

                                       OR

     [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES
                              EXCHANGE ACT OF 1934


   FOR THE TRANSITION PERIOD FROM ____________________ TO ____________________

                         COMMISSION FILE NUMBER: 0-24559


                                MULTEX.COM, INC.
        -----------------------------------------------------------------
             (Exact name of registrant as specified in its charter)


               DELAWARE                                 22-3253344
---------------------------------------    -------------------------------------
       (State of Incorporation)                      (I.R.S. Employer
                                                  Identification Number)

                          100 WILLIAM STREET, 7TH FLOOR
                            NEW YORK, NEW YORK 10038
                                 (212) 607-2400
        -----------------------------------------------------------------
               (Address, including zip code, and telephone number,
        including area code, of registrant's principal executive offices)



Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.

                      Yes |X|                        No |_|



As of August 7, 2001, there were 32,374,032  shares of the  registrant's  common
stock outstanding.
================================================================================

<PAGE>


                          QUARTERLY REPORT ON FORM 10-Q
                        MULTEX.COM, INC. AND SUBSIDIARIES


                                TABLE OF CONTENTS


                                                                           PAGE
                                                                          NUMBER
                                                                          ------

PART I.  FINANCIAL INFORMATION................................................ 3

       ITEM 1:    CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited):.... 3

                  Condensed Consolidated Balance Sheets as of
                  June 30, 2001 and December 31, 2000......................... 3

                  Condensed Consolidated Statements of Operations
                  for the three months and six months ended
                  June 30, 2001 and 2000...................................... 4

                  Condensed Consolidated Statements of Cash Flows
                  for the six months ended June 30, 2001 and 2000............. 5

                  Notes to Condensed Consolidated Financial Statements
                  June 30, 2001............................................... 7

       ITEM 2.    MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS............... 9

PART II.  OTHER INFORMATION.................................................. 20

       ITEM 1.    LEGAL PROCEEDINGS.......................................... 20

       ITEM 2.    CHANGES IN SECURITIES AND USE OF PROCEEDS.................. 20

       ITEM 3.    DEFAULTS UPON SENIOR SECURITIES............................ 20

       ITEM 4.    SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS........ 20

       ITEM 5.    OTHER INFORMATION.......................................... 20

       ITEM 6.    EXHIBITS AND REPORTS ON FORM 8-K........................... 20

       ITEM 7.    SIGNATURES................................................. 21

                                       2
<PAGE>


                          PART I. FINANCIAL INFORMATION

                          ITEM 1. FINANCIAL STATEMENTS

                        MULTEX.COM, INC. AND SUBSIDIARIES

                      CONDENSED CONSOLIDATED BALANCE SHEETS

                                 (IN THOUSANDS)

                                                        JUNE 30,    DECEMBER 31,
                                                         2001          2000
                                                       ---------     ---------
ASSETS                                                (unaudited)    (audited)
                                                       ---------     ---------
Current assets:
  Cash and cash equivalents                            $  37,734     $  20,237
  Marketable securities                                    6,732        25,493
  Accounts receivable, net                                20,825        27,497
  Other current assets                                     6,967         6,542
                                                       ---------     ---------
Total current assets                                      72,258        79,769

Property and equipment, net                               37,937        37,909
Goodwill, net                                              6,476        33,704
Intangibles, net                                          16,822        17,649
Other                                                      8,004         5,490
                                                       ---------     ---------
Total assets                                           $ 141,497     $ 174,521
                                                       =========     =========

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
  Accounts payable                                     $   2,309     $   4,805
  Accrued expenses                                         5,060         9,742
  Current portion of capital lease obligations                78           110
  Deferred revenues                                       10,116        10,533
                                                       ---------     ---------
Total current liabilities                                 17,563        25,190

Long term liabilities:
  Capital lease obligations                                   46            84
  Deferred rent                                            3,250         3,119
  Other                                                        3             3
                                                       ---------     ---------
Total long term liabilities                                3,299         3,206

Stockholders' equity:
  Preferred stock - $.01 par value:
     Authorized - 5,000,000 shares;
     none issued and outstanding                              --            --
  Common stock - $.01 par value:
     Authorized - 200,000,000 shares;
     issued and outstanding  32,060,000 shares
        at June 30, 2001 and 31,741,000 at
        December 31, 2000                                    321           317
  Additional paid-in capital                             223,856       216,683
  Accumulated deficit                                    (92,061)      (61,336)
  Deferred equity consideration                          (11,389)       (9,671)
  Accumulated other comprehensive income (loss)              (92)          132
                                                       ---------     ---------
Total stockholders' equity                               120,635       146,125
                                                       ---------     ---------
Total liabilities and stockholders' equity             $ 141,497     $ 174,521
                                                       =========     =========

              THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE
                  CONDENSED CONSOLIDATED FINANCIAL STATEMENTS.

                                       3
<PAGE>


                        MULTEX.COM, INC. AND SUBSIDIARIES

                 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                (UNAUDITED; IN THOUSANDS, EXCEPT PER SHARE DATA)

                                    THREE MONTHS ENDED       SIX MONTHS ENDED
                                   JUNE 30,    JUNE 30,    JUNE 30,    JUNE 30,
                                     2001        2000        2001        2000
                                   --------    --------    --------    --------

Gross revenues                     $ 23,522    $ 19,167    $ 53,026    $ 35,250
Performance-based warrants           (1,075)         --      (1,075)         --
                                   --------    --------    --------    --------
Net revenues                         22,447      19,167      51,951      35,250

Cost of revenues                      7,187       3,936      12,900       7,904
                                   --------    --------    --------    --------
Gross profit                         15,260      15,231      39,051      27,346

Operating expenses:
  Sales and marketing                 7,738       5,917      14,454      12,157
  Research and development            1,961       2,767       4,567       5,022
  General and administrative         13,691       8,288      25,621      14,635
  Impairment charge                  25,641         --       25,641          --
                                   --------    --------    --------    --------
Total operating expenses             49,031      16,972      70,283      31,814

Loss from operations                (33,771)     (1,741)    (31,232)     (4,468)

Other income (expense):
  Interest income                       497         626       1,078       1,336
  Interest expense                       (3)        (10)        (18)        (23)
  Other                                (173)         --        (173)         --
                                   --------    --------    --------    --------
Loss before income taxes            (33,450)     (1,125)    (30,345)     (3,155)
Income tax expense                      290          48         380          95
                                   --------    --------    --------    --------
Net loss                           $(33,740)   $ (1,173)   $(30,725)   $ (3,250)
                                   ========    ========    ========    ========

Basic and diluted net loss
  per share                        $  (1.05)   $  (0.04)   $  (0.96)   $  (0.11)
                                   ========    ========    ========    ========

Number of shares used in basic
  and diluted loss per share         31,994      29,842      31,905      29,076
                                   ========    ========    ========    ========


              THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE
                  CONDENSED CONSOLIDATED FINANCIAL STATEMENTS.

                                       4
<PAGE>


                        MULTEX.COM, INC. AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

                            (UNAUDITED; IN THOUSANDS)


                                                             SIX MONTHS ENDED
                                                           JUNE 30,    JUNE 30,
                                                             2001        2000
                                                           --------    --------
Operating activities
Net loss from operations                                   $(30,725)   $ (3,250)
Adjustments to reconcile net loss from
  operations to net cash provided by (used in)
  operating activities:
    Amortization of equity consideration                      2,071       1,203
    Depreciation and amortization                             4,859       2,804
    Amortization of goodwill and intangibles                  2,714         805
    Performance-based warrant charges                         1,075          --
    Bad debt expense                                          1,346         430
    Impairment charges                                       25,641          --
    Changes in operating assets and liabilities:
      Accounts receivable                                     5,326      (7,589)
      Other current assets                                     (425)       (829)
      Other assets                                            1,392        (624)
      Accounts payable                                       (2,756)     (3,386)
      Accrued expenses                                       (4,876)        668
      Deferred revenue                                         (417)      2,266
      Deferred rent                                             131         339
      Other liabilities                                          --         (14)
                                                           --------    --------
Net cash provided by (used in) operating
  activities from operations                                  5,356      (7,177)

INVESTING ACTIVITIES
Purchase of marketable securities                           (24,569)    (19,197)
Proceeds from sale of marketable securities                  43,050      26,262
Acquisition of Sage Online and BuzzCompany,
  net of cash acquired                                           --      (6,724)
Purchase of property and equipment                           (8,639)    (11,811)
                                                           --------    --------
Net cash provided by (used in) investing activities           9,842     (11,470)

FINANCING ACTIVITIES
Proceeds from issuances of stock                              2,313      23,368
Repayment of long-term debt and capital leases                  (70)       (117)
                                                           --------    --------
Net cash provided by financing activities                     2,243      23,251

Effect of exchange rate changes on cash                          56         (10)
                                                           --------    --------
Increase in cash and cash equivalents                        17,497       4,594
Cash and cash equivalents, beginning of year                 20,237       6,089
                                                           --------    --------
Cash and cash equivalents, end of period                   $ 37,734    $ 10,683
                                                           ========    ========


              THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE
                  CONDENSED CONSOLIDATED FINANCIAL STATEMENTS.

                                       5
<PAGE>


                        MULTEX.COM, INC. AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

                            (UNAUDITED; IN THOUSANDS)


                                                         SIX MONTHS ENDED
                                                   JUNE 30, 2001   JUNE 30, 2000
                                                   -------------   -------------
SUPPLEMENTAL DISCLOSURES OF CASH FLOW
INFORMATION NONCASH INVESTING AND
FINANCING ACTIVITY:
Accrued purchases of fixed assets                  $         260   $         838
                                                   =============   =============
Unrealized (loss) gain on marketable securities    $        (280)  $          59
                                                   =============   =============
Issuance of restricted stock                       $       4,005   $          --
                                                   =============   =============
Stock issued for acquisition of Sage Online        $          --   $      11,037
                                                   =============   =============
Stock issued for acquisition of BuzzCompany        $          --   $      22,801
                                                   =============   =============
Stock issued for acquisition of software           $          --   $       5,400
                                                   =============   =============
Stock issued for exercise of warrants              $          --   $           3
                                                   =============   =============
Fair market value of warrants issued               $       1,075   $       9,809
                                                   =============   =============
Taxes paid                                         $         101   $           2
                                                   =============   =============
Interest paid                                      $          18   $          20
                                                   =============   =============


              THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE
                  CONDENSED CONSOLIDATED FINANCIAL STATEMENTS.

                                       6
<PAGE>


              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)
                                  JUNE 30, 2001

NOTE 1 -- BASIS OF PRESENTATION

     Multex.com,  Inc. (the "Company" or  "Multex.com")  is a global provider of
investment  information  and  technology  solutions  to the  financial  services
industry,  including brokerage firms, professional money management firms, hedge
funds, venture capital firms, mutual funds, investment banks, corporations,  and
individual investors. Headquartered in New York, the Company also has offices in
London, San Francisco, Edinburgh and Hong Kong.

     The accompanying unaudited condensed consolidated financial statements have
been prepared in accordance with generally  accepted  accounting  principles for
interim financial information and with the instructions to Form 10-Q and Article
10 of Regulation  S-X.  Accordingly,  they do not include all of the information
and footnotes required by generally accepted accounting  principles for complete
financial statements. In the opinion of management,  all adjustments (consisting
of normal recurring  adjustments)  considered  necessary for a fair presentation
have been included.  Operating results for the three and six month periods ended
June 30, 2001 are not necessarily indicative of the results that may be expected
for the year ending December 31, 2001. The disclosure of segment information was
not required as the Company operates in only one business segment.

     The  balance  sheet at  December  31, 2000 has been  derived  from  audited
financial  statements but does not include all of the  information and footnotes
required by generally  accepted  accounting  principles  for complete  financial
statements.

     The  interim  financial  information  contained  herein  should  be read in
conjunction with the consolidated financial statements and notes thereto for the
year ended  December 31, 2000  included in the  Company's  Annual Report on Form
10-K.

     In June 2001, the Financial Accounting Standards Board issued Statements of
Financial  Accounting  Standards No. 141,  Business  Combinations,  and No. 142,
Goodwill and Other Intangible Assets, effective for fiscal years beginning after
December 15, 2001. Under the new rules,  goodwill (and intangible  assets deemed
to have  indefinite  lives) will no longer be  amortized  but will be subject to
annual  impairment  tests in accordance  with the Statements.  Other  intangible
assets will continue to be amortized over their useful lives.

     The Company will apply the new rules on  accounting  for goodwill and other
intangible  assets  beginning in the first quarter of 2002.  Application  of the
non-amortization  provisions  of the  Statement  is  expected  to  result  in an
increase  in net income of  approximately  $700,000  ($0.02 per share) per year.
During 2002, the Company will perform the first of the required impairment tests
of goodwill and indefinite lived intangible assets as of January 1, 2002 and has
not yet  determined  what the effect of these tests will be on the  earnings and
financial position of the Company.


NOTE 2 -- STOCKHOLDERS' EQUITY

     During the three  months ended June 30, 2001,  the Company  issued  144,000
shares of its common stock in  connection  with the exercise of stock options to
employees and the employee stock purchase plan.

     During the three months ended March 31, 2001,  the Company  issued  174,000
shares of its common stock to employees in connection with the exercise of stock
options and granted rights to receive an additional  301,000 shares to employees
in connection  with its restricted  stock program.  The restricted  stock rights
vest in four equal semi-annual  installments beginning July 31, 2001, with stock
issuance occurring on each vesting date.

                                       7
<PAGE>


NOTE 3 -- EARNINGS PER SHARE

     The  following  table  sets  forth the  computation  of basic  and  diluted
earnings per share for the periods  indicated  (in  thousands,  except per share
data):

<TABLE>
<CAPTION>
                                                           THREE MONTHS ENDED                SIX MONTHS ENDED
                                                                JUNE 30,                         JUNE 30,
                                                     -------------------------------  -------------------------------
                                                          2001            2000             2001             2000
                                                     --------------  ---------------  ---------------  --------------
<S>                                                   <C>             <C>              <C>              <C>
Numerator:

   Numerator for basic and diluted net loss per
     share - net loss available for common
     stockholders                                     $   (33,740)    $    (1,173)     $   (30,725)     $    (3,250)
                                                    ==============  ===============  ===============  ==============

Denominator:


   Denominator for basic and diluted net loss per
     share - weighted average shares                       31,994          29,842           31,905           29,076
                                                     --------------  ---------------  ---------------  --------------
   Basic and diluted net loss per share               $     (1.05)    $     (0.04)     $     (0.96)     $     (0.11)
                                                     ==============  ===============  ===============  ==============
</TABLE>


NOTE 4 -- COMPREHENSIVE INCOME (LOSS)

     Total  comprehensive  loss was $33.7 million and $1.1 million for the three
months ended June 30, 2001 and June 30, 2000, respectively.  Total comprehensive
loss was $30.9  million and $3.2  million for the six months ended June 30, 2001
and June 30, 2000, respectively.


NOTE 5 -- IMPAIRMENT OF LONG-LIVED ASSETS

     During the quarter ended June 30, 2001, the Company  recorded an impairment
charge of $25.6  million  related  to two of its  acquisitions.  There  were two
components to this special charge.

     The  first  component  reflects  the  Company's  decision  to exit the Sage
business,  resulting in a $15.3 million  (comprised of goodwill) special charge.
The majority of this charge relates to the  write-down of net intangible  assets
associated with the Sage acquisition.

     The second  component  relates to exiting the Buzz  software  product line.
Management  performed an evaluation of the Buzz intangible  assets, as described
in Financial  Accounting  Standards No. 121,  "Accounting  for the Impairment of
Long-Lived  Assets" and concluded  from the results of this  evaluation  that an
impairment of  intangible  assets had  occurred.  An impairment  charge of $10.3
million  (comprised of goodwill) was required  because  estimated fair value was
less than the carrying value of the assets.


NOTE 6 -- SUBSEQUENT EVENTS

     In July 2001, the Company instituted a 15% workforce reduction resulting in
estimated  annualized cost savings of  approximately  $6.0 million.  The Company
anticipates recording a third quarter restructuring charge of approximately $1.0
million for  expenses  relating to  severance  and other costs  associated  with
exiting the Sage business.

                                       8
<PAGE>


ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS

     THE  FOLLOWING  DISCUSSION  OF  THE  FINANCIAL  CONDITION  AND  RESULTS  OF
OPERATIONS OF THE COMPANY CONTAINS FORWARD-LOOKING STATEMENTS WITHIN THE MEANING
OF SECTION 27A OF THE SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE
SECURITIES  EXCHANGE ACT OF 1934, AS AMENDED.  STATEMENTS  CONTAINED HEREIN THAT
ARE NOT  STATEMENTS  OF  HISTORICAL  FACT MAY BE  DEEMED  TO BE  FORWARD-LOOKING
STATEMENTS. WITHOUT LIMITING THE FOREGOING, THE WORDS "BELIEVES", "ANTICIPATES",
"PLANS",   "EXPECTS"   AND  SIMILAR   EXPRESSIONS   ARE   INTENDED  TO  IDENTIFY
FORWARD-LOOKING  STATEMENTS.  THE  COMPANY'S  ACTUAL  RESULTS  AND THE TIMING OF
CERTAIN  EVENTS  COULD  DIFFER   MATERIALLY  FROM  THOSE  ANTICIPATED  IN  THESE
FORWARD-LOOKING  STATEMENTS AS A RESULT OF CERTAIN FACTORS,  INCLUDING,  BUT NOT
LIMITED TO, THOSE SET FORTH UNDER "RISK FACTORS THAT MAY AFFECT FUTURE RESULTS."

OVERVIEW

Multex.com is a global provider of investment information and technology
solutions for the financial services industry, including brokerage firms,
professional money management firms, hedge funds, venture capital firms, mutual
funds, investment banks, corporations and individual investors. We offer four
main products, as follows:

o    MultexNET, launched in June 1996, provides access to real-time, commingled
     equity and fixed income research, global estimates and company fundamental
     information to buyside investors, sellside institutions, public and private
     corporations and libraries of professional service firms;

o    MultexEXPRESS, launched in January 1997, offers development, hosting and
     real-time distribution of research and other investment information on
     customized web sites to buyside investments firms, sellside institutions
     and other financial services companies;

o    Multex Investor, launched in November 1998, is the Company's financial
     destination web site that provides financial data and access to free
     research in return for permission-based leads to brokerage firms and
     pay-per-view research on an embargoed basis; and

o    Market Guide, acquired in September 1999, provides investment information
     products to financial institutions and web sites, institutional investors,
     corporations and professional vendors.

MultexNET is offered either on a one- to three-year  subscription  basis or on a
transactional  basis  through  Multex  OnDemand.  The  product  allows  entitled
institutional  investors,  corporations,  financial institutions and advisors to
access  full-text   investment  research  reports  on  a  real-time  basis  from
investment banks,  brokerage firms and other third-party research providers over
the Internet or through other distribution channels.

MultexEXPRESS  is also provided  pursuant to one- to  three-year  subscriptions,
generating  revenue  from  professional  services,  hosting,  and license  fees.
MultexEXPRESS  enables  financial  institutions to distribute their  proprietary
financial  research,  as well as other corporate  documents,  over the Internet,
through intranets and other private networks.

Multex Investor provides individual  investors who register as members access to
a range  of  financial  reports  and  services  online  from a  majority  of the
contributors to MultexNET. These reports are available either free of charge, or
for a fee  determined  by  the  research  provider.  Multex  Investor  generates
revenues  from  transactions,  email and banner  advertising,  and  contractual,
lead-generating  sponsorships.  Sponsors on Multex Investor include full-service
brokerage  firms and  other  financial  institutions  interested  in  attracting
individual investors to their products, services and brands.

Market Guide acquires, integrates,  condenses and publishes accurate, timely and
objective  financial,  descriptive  and  other  information  on  publicly-traded
companies. Market Guide generates revenue primarily by licensing its database in
single or multi-year contracts.

                                       9
<PAGE>


Revenue from MultexNET  subscriptions is recognized in equal  installments  over
the term of the subscription.  Revenue from transactions on MultexNET and Multex
Investor are recognized upon sale. Some of the transactional  users of MultexNET
pay a flat annual fee for the service,  which entitles them to receive  research
and other reports at a discounted rate. Revenues from these users are recognized
in  equal  installments  over  the  term  of  the  subscription.   Revenue  from
professional   service  fees  related  to  Multex  EXPRESS  is  recognized  upon
completion  of relevant  service,  whereas  the  hosting  and  license  fees are
recognized over the term of the agreement.  Revenue from  sponsorships on Multex
Investor is recognized in equal  installments  over the term of the sponsorship.
Market Guide license fees are recognized over the term of the agreement.

The majority of costs  associated with revenues from  MultexNET,  MultexEXPRESS,
Multex Investor and Market Guide are expensed as and when incurred.


RESULTS OF OPERATIONS

QUARTER ENDED JUNE 30, 2001 COMPARED TO QUARTER ENDED JUNE 30, 2000

Revenues

Multex.com's gross revenues consist of subscription fees for MultexNET, sales of
investment   research  on  a  pay-per-view   basis  through   Multex   OnDemand,
subscription,  development, hosting and license fees for MultexEXPRESS,  license
and   redistribution   fees  for  the  Market  Guide  database,   and  sales  of
sponsorships,  advertising and investment  research  through the Multex Investor
web site. We also provide professional services to select MultexEXPRESS clients,
including software development, customization and integration services.

Gross revenues  increased  22.7% to $23.5 million for the quarter ended June 30,
2001 from $19.2  million for the quarter  ended June 30,  2000.  The increase in
revenues reflects growth in MultexExpress, MultexNET and Market Guide, partially
offset by a reduction in revenue related to Multex  Investor.  Gross revenues in
the second quarter of 2001 totaled $23.5 million, compared with $29.5 million in
the first quarter of 2001, representing a decrease of 20.3%.

On a quarter over quarter basis (June 2001 compared to June 2000), MultexEXPRESS
revenue  benefited  from an increase in the number of Express sites in operation
and additional  customization work. On a sequential basis, the June 2001 quarter
declined significantly from the March 2001 quarter reflecting the absence of any
termination  charges in the second quarter,  a reduction in development work for
one of the Company's largest customers,  and delays in new and expanded business
resulting from continuing weakness in the global financial markets.

MultexNET  sales  benefited  from an  increased  number of users  accessing  the
MultexNET service and an increase in the number of reports purchased through the
OnDemand product on a quarter over quarter basis.  When compared on a sequential
basis,  the second  quarter  showed a slight  decline  versus the first quarter,
reflecting  a decline in  revenues  from the  OnDemand  product  line.  This was
primarily  attributable to a decline in investment banking activities  resulting
from the global slowdown in the financial markets.

Multex  Investor  experienced  sharp  revenue  declines  on both a quarter  over
quarter  and  sequential  basis,  each of which  reflects  the  downturn  in the
financial markets. Advertising, sponsorships and transactions were all adversely
impacted by the global  slowdown  in the  financial  markets  and from  dramatic
curtailments of corporate advertising budgets.

On a quarter over quarter  basis,  Market Guide  benefited from the inclusion of
the Multex Global Estimates  (formerly Barra Global Estimates)  business,  which
was acquired in December 2000, and from modest increases in vendor revenues.  On
a  sequential  basis,  the Market  Guide  business  was  negatively  impacted by
continued  bankruptcies and cancellations as many of its customers are dependent
on the financial  markets and advertising,  both of which have experienced sharp
declines.

All of the Company's  product  lines were effected by continued  weakness in

                                       10
<PAGE>


the global financial markets resulting in a slowdown in new business, reductions
in customer  spending,  postponement  of customer  decisions,  and  increases in
bankruptcy filings.

PERFORMANCE-BASED  WARRANT  CHARGES.  In the second quarter ended June 30, 2001,
the Company recorded performance-related charges associated with warrants issued
to Merrill Lynch & Co., Inc.  totaling $1.1 million.  The Company has classified
this non-cash expense as contra-revenue.  The performance-based  warrant charges
will  continue to be recorded  by the Company in each period that  warrants  are
earned.

Cost of Revenues

Cost of revenues consist  primarily of fees payable to distributors of MultexNET
and Multex OnDemand, royalties payable to the authors of investment research and
content  offered  through Multex  OnDemand,  and the Multex  Investor and Market
Guide  web  sites,   internal  and  external   development  costs  incurred  for
MultexEXPRESS customers, research department costs related to the collection and
processing  of  financial  data  and  global   earnings   estimates,   and  data
communications costs.

Cost of revenues  increased  82.6% to $7.2 million in the quarter ended June 30,
2001 from $3.9 million for the quarter  ended June 30, 2000.  As a percentage of
gross revenues,  cost of revenues  increased to 30.6% for the quarter ended June
30, 2001 from 20.5% for the quarter ended June 30, 2000. The increase in cost of
revenues  was  primarily  due to  increased  royalty  payments  to  third  party
contributors  resulting from additional report sales through the Multex OnDemand
platform, the inclusion of data collection costs related to the Global Estimates
business,   higher   telecommunication   costs   resulting   from  data   center
redundancies,  and costs associated with increased customization work related to
development and enhancements of Express sites.

Operating Expenses

SALES AND MARKETING. Sales and marketing expenses consist primarily of salaries,
commissions,  advertising,  public  relations,  tradeshow  expenses and costs of
marketing  materials.  Sales  and  marketing  expenses  increased  30.8% to $7.7
million in the  quarter  ended June 30,  2001 from $5.9  million for the quarter
ended June 30, 2000.  As a percentage  of gross  revenues,  sales and  marketing
expenses  increased to 32.9% for the quarter  ended June 30, 2001 from 30.9% for
the quarter ended June 30, 2000.  The increase in sales and  marketing  expenses
was due to an  increase  in  sales  personnel  and  was  partially  offset  by a
reduction in  advertising  and marketing  expenses.  The Company has reduced its
marketing expenditures with the majority of its marketing dollars in the current
quarter spent on generating  qualified  leads to the Multex  Investor  platform.
Management  anticipates marketing expenses to decline over the next two quarters
as the Company reviews its online marketing and carriage fee contracts.

RESEARCH AND DEVELOPMENT. Research and development expenses consist primarily of
salaries and benefits. Research and development expenses decreased 29.1% to $2.0
million  for the quarter  ended June 30, 2001 from $2.8  million for the quarter
ended June 30, 2000. As a percentage of gross revenues, research and development
expenses  decreased  to 8.3% for the quarter  ended June 30, 2001 from 14.4% for
the quarter  ended June 30,  2000.  The  decrease in  research  and  development
expenses in dollar terms was primarily attributable to an increase in the number
of internally  developed  software projects being capitalized in accordance with
SOP 98-1,  ACCOUNTING FOR THE COSTS OF COMPUTER  SOFTWARE  DEVELOPED OR OBTAINED
FOR INTERNAL USE.

GENERAL  AND  ADMINISTRATIVE.   General  and  administrative   expenses  consist
primarily of salaries and benefits,  fees for professional services and facility
expenses,  including  depreciation and  amortization of equipment,  software and
leasehold  improvements,  and amortization of identifiable intangible assets and
goodwill.  General and administrative  expenses increased 65.2% to $13.7 million
for the quarter ended June 30, 2001 from $8.3 million for the quarter ended June
30, 2000. As a percentage of gross revenues, general and administrative expenses
increased  to 58.2% for the  quarter  ended  June 30,  2001  from  43.2% for the
quarter  ended June 30,  2000.  Growth in general  and  administrative  expenses
reflects an increase in the number of employees  and offices  worldwide,  higher
bad debt reserves, and increased professional fees related to development, legal
and tax  services.  Additionally,  the second  quarter  ended June 2001 included
recognition of operating expenses related to Buzz and the BARRA Global Estimates
business.  The Buzz and BARRA Global  estimates  acquisitions  were  consummated
subsequent to March 2000.

                                       11
<PAGE>


Management expects general and administrative  expenses to decrease in aggregate
dollars for the  remainder of this year as the cost savings from the  impairment
charge, recorded in the second quarter, and anticipated restructuring charge, to
be  recorded  in the third  quarter,  materialize.  The  majority  of these cost
savings will be  attributable  to a 15%  reduction in personnel  and the benefit
costs  associated  with these  employees,  the  elimination of operating  losses
associated  with Sage, and a reduction in amortization  charges  associated with
prior period acquisitions.

IMPAIRMENT  CHARGE.  In the second  quarter  ended June 30,  2001,  the  Company
recorded an impairment  charge of $25.6 million  reflecting the decision to exit
the Sage  business  and the  Buzz  product  line.  Management  also  anticipates
recording a restructuring charge in the third quarter related to severance costs
associated with a fifteen percent payroll  reduction and other expenses  related
to exiting the Sage business and Buzz product line. The Company expects the full
impact of these  charges  to take  effect in the  fourth  quarter of 2001 and to
realize  annual  cost  savings  of  approximately  $10.0  million  from  the 15%
personnel  reduction,   lower  employee  benefits  costs,  reduced  amortization
charges,  lower marketing  carriage fees, and the absence of other costs related
to Sage and the Buzz product line.

Loss from Operations

Loss from  operations  totaled $33.8 million for the quarter ended June 30, 2001
compared to a loss from  operations  of $1.7 million for the quarter  ended June
30, 2000.  Loss from  operations  reflects the global  slowdown in the financial
marketplace, the impairment charge related to exiting the Sage business and Buzz
product line, and higher operating expenses.

Interest Income (Expense)

Net interest  income  decreased 19.8% to $494,000 for the quarter ended June 30,
2001 from  $616,000  for the quarter  ended June 30,  2000.  The decrease in net
interest income is primarily attributable to a decline in interest rates.

Other

Other  expense  relates  to a  $173,000  loss  the  Company  recognized  on  the
disposition of the Company's equity investment in Financial Data Concepts in the
second quarter of this year.

Income Taxes

Income  taxes  increased  to $290,000  for the quarter  ended June 30, 2001 from
$48,000 for the quarter ended June 30, 2000 reflecting  estimated taxable income
for 2001 associated with employee stock option deductions and profitable foreign
operations  for which the  Company's net operating  loss  carryforwards  are not
available.

At  December  31,  2000,   Multex  had  net  operating  loss   carryforwards  of
approximately   $50.0   million  and   research  and   development   credits  of
approximately  $1.5 million for income tax purposes  that expire in 2009 through
2020.  The  utilization  with regard to timing and amount of the  Company's  net
operating  loss  carryfowards  may be limited  due to  changes in the  Company's
ownership pursuant to Section 382 of the Internal Revenue Code.

Net loss

The  Company  recorded a net loss of $33.7  million,  or a net loss per share of
$1.05,  for the  quarter  ended  June 30,  2001  compared  to a net loss of $1.2
million,  or a net loss per share of $0.04, for the quarter ended June 30, 2000.
The net loss  reflects the global  slowdown in the  financial  marketplace,  the
impairment  charge  related to exiting the Sage  business and Buzz product line,
and higher operating expenses.



SIX MONTHS ENDED JUNE 30, 2001 COMPARED TO SIX MONTHS ENDED JUNE 30, 2000

                                       12
<PAGE>


Revenues

Gross  revenues  increased  50.4% to $53.0 million for the six months ended June
30, 2001 from $35.3 million for the six months ended June 30, 2000. The increase
in  revenues  reflects  growth in  MultexExpress,  MultexNET  and Market  Guide,
partially  offset  by  a  reduction  in  revenue  related  to  Multex  Investor.
MultexEXPRESS  revenue benefited from an increase in the number of Express sites
in operation,  additional  customization  work and an early  termination  charge
associated  with one customer who decided to exit the retail  marketplace in the
first quarter of 2001.  MultexNET  sales  benefited from an increased  number of
users  accessing the MultexNET  service and an increase in the number of reports
purchased  through the OnDemand product.  Multex Investor  experienced a revenue
decline  reflecting the downturn in the financial  markets  partially  offset by
cancellation fees related to two sponsors exiting the retail  marketplace in the
first  quarter of 2001.  Advertising,  sponsorships  and  transactions  were all
adversely  impacted  by the global  slowdown in the  financial  markets and from
dramatic curtailments of corporate advertising budgets.  Market Guide benefitted
from the  inclusion  of the  Multex  Global  Estimates  (formerly  Barra  Global
Estimates) business that was acquired in December 2000 and from modest increases
in vendor revenues  partially  offset by several smaller  internet  distributors
canceling their contracts and/or declaring bankruptcy in the first half of 2001.

For  the  six  month  period  ended  June  30,   2001,   the  Company   incurred
performance-related  charges  associated with warrants issued to Merrill Lynch &
Co.,  Inc.  totaling  $1.1  million.  The Company has  classified  this non-cash
expense as a contra-revenue account. The performance-based  warrant charges will
continue to be recorded by the Company in each period that warrants are earned.

Cost of Revenues

Cost of revenues  increased  63.2% to $12.9 million  during the six months ended
June 30,  2001 from $7.9  million  for six  months  ended  June 30,  2000.  As a
percentage of gross  revenues,  cost of revenues  increased to 24.3% for the six
months  ended June 30, 2001 from 22.4% for the six months  ended June 30,  2000.
The increase in cost of revenues in dollar terms was  primarily due to increased
royalty payments to third party  contributors  resulting from additional  report
sales through the Multex  OnDemand  platform,  the inclusion of data  collection
costs  related to the  Global  Estimates  business,  and costs  associated  with
increased  customization work related to development and enhancements of Express
sites.

Operating Expenses

SALES AND MARKETING. Sales and marketing expenses consist primarily of salaries,
commissions,  advertising,  public  relations,  tradeshow  expenses and costs of
marketing  materials.  Sales and  marketing  expenses  increased  18.9% to $14.5
million during the six months ended June 30, 2001 from $12.2 million for the six
months  ended  June 30,  2000.  As a  percentage  of gross  revenues,  sales and
marketing  expenses  decreased  to 27.3% for the six months  ended June 30, 2001
from 34.5% for the six months  ended June 30,  2000.  The  increase in sales and
marketing expenses was due to an increase in sales personnel partially offset by
a reduction in advertising and marketing  expenses.  The Company has reduced its
marketing  expenditures  with the  majority of its  marketing  dollars  spent on
generating qualified leads to the Multex Investor platform.

RESEARCH AND DEVELOPMENT. Research and development expenses consist primarily of
salaries and benefits.  Research and development expenses decreased 9.1% to $4.6
million  during the six months ended June 30, 2001 from $5.0 million for the six
months ended June 30,  2000.  As a percentage  of gross  revenues,  research and
development  expenses  decreased  to 8.6% for the six months ended June 30, 2001
from 14.3% for the six months ended June 30, 2000.  The decrease in research and
development  expenses in dollar  terms was  primarily  due to an increase in the
number of internally developed software projects being capitalized.

GENERAL  AND  ADMINISTRATIVE.   General  and  administrative   expenses  consist
primarily of salaries and benefits,  fees for professional services and facility
expenses,  including  depreciation and  amortization of equipment,  software and
leasehold  improvements,  and amortization of identifiable intangible assets and
goodwill.  General and administrative  expenses increased 75.1% to $25.6 million
during the six months ended June 30, 2001 from $14.6  million for the six months
ended  June  30,  2000.  As  a  percentage  of  gross   revenues,   general  and
administrative  expenses  increased  to

                                       13
<PAGE>


48.3% for the six months ended June 30, 2001 from 41.5% for the six months ended
June 30,  2000.  Growth in  general  and  administrative  expenses  reflects  an
increase  in the number of  employees  and  offices  worldwide,  higher bad debt
reserves, and increased professional fees related to development,  legal and tax
services. Additionally, the six months ended June 2001 included full recognition
of expenses related to Sage, Buzz and the BARRA Global Estimates business.

IMPAIRMENT  CHARGE.  For the six month period  ended June 30, 2001,  the Company
recorded an impairment  charge of $25.6 million  reflecting the decision to exit
the Sage  business  and the  Buzz  product  line.  Management  also  anticipates
recording a restructuring charge in the third quarter related to severance costs
associated with a fifteen percent payroll  reduction and other expenses  related
to exiting the Sage business and Buzz product line. The Company expects the full
impact of these  charges  to take  effect in the  fourth  quarter of 2001 and to
realize  annual  cost  savings  of  approximately  $10.0  million  from  the 15%
personnel  reduction,   lower  employee  benefits  costs,  reduced  amortization
charges,  lower marketing  carriage fees, and the absence of other costs related
to Sage and the Buzz product line.

Loss from Operations

Loss from  operations  totaled  $31.2  million for the six months ended June 30,
2001 compared to a loss from operations of $4.5 million for the six months ended
June 30,  2000.  Loss  from  operations  reflects  the  global  slowdown  in the
financial  marketplace,  the  impairment  charge  related  to  exiting  the Sage
business and Buzz product line, and higher operating expenses.

Interest Income (Expense)

Net interest income  decreased 19.3% to $1.1 million during the six months ended
June 30, 2001 from $1.3  million  for the six months  ended June 30,  2000.  The
decrease  in net  interest  income is  primarily  attributable  to a decline  in
interest rates.

Other

Other  expense  relates  to a  $173,000  loss  the  Company  recognized  on  the
disposition of the Company's equity investment in Financial Data Concepts in the
second quarter of this year.

Income Taxes

Income  taxes  increased to $380,000 for the six months ended June 30, 2001 from
$95,000 for the six months ended June 30, 2000.

At December  31,  2000,  Multex.com  had net  operating  loss  carryforwards  of
approximately   $50.0   million  and   research  and   development   credits  of
approximately  $1.5 million for income tax purposes  that expire in 2009 through
2020.  The  utilization  with regard to timing and amount of the  Company's  net
operating  loss  carryfowards  may be limited  due to  changes in the  Company's
ownership pursuant to Section 382 of the Internal Revenue Code.

Net loss

The  Company  recorded a net loss of $30.7  million,  or a net loss per share of
$0.96,  for the six months  ended June 30,  2001  compared to a net loss of $3.3
million,  or a net loss per share of $0.11,  for the six  months  ended June 30,
2000.  The net loss reflects the global  slowdown in the financial  marketplace,
the  impairment  charge  related to exiting the Sage  business  and Buzz product
line, and higher operating expenses.

LIQUIDITY AND CAPITAL RESOURCES

At June 30, 2001, we had $44.5 million of cash, cash  equivalents and marketable
securities.  Our principal  commitments  consist of obligations  under operating
leases.

                                       14
<PAGE>


Net cash  provided by  operating  activities  was $5.4 million in the six months
ended June 30, 2001, and net cash used in operating  activities was $7.2 million
in the  equivalent  period in 2000.  The increase in cash  provided by operating
activities   reflects  higher  non-cash  charges  (including   depreciation  and
amortization),   the  impairment  charge   (non-cash),   and  improved  accounts
receivable  balances,  partially  offset by a reduction in accrued  expenses and
accounts payables.

Net cash  provided by  investing  activities  was $9.8 million in the six months
ended June 30, 2001, and net cash used in investing activities was $11.5 million
in the equivalent  period in 2000. The improvement in cash provided by investing
activities  was  primarily  related to  marketable  securities  transactions,  a
reduction in purchases of property and equipment,  and the  acquisitions of Sage
Online and Buzz in the first half of 2000,  for which  there were no  comparable
transactions in 2001.

Net cash  provided by  financing  activities  was $2.2 million in the six months
ended June 30, 2001,  and $23.3 million for the  equivalent  period in 2000. The
sharp  decline in cash provided by financing  activities  was due to the private
placement of stock issued to Merrill Lynch in the first  quarter of 2000.  There
was no comparable transaction during the six month period ended June 30, 2001.

We believe that our existing cash, cash  equivalents and marketable  securities,
will be sufficient to meet our  anticipated  cash needs for working  capital and
capital expenditures at least for the next twelve months.



                   RISK FACTORS THAT MAY AFFECT FUTURE RESULTS

MULTEX.COM'S  BUSINESS COULD BE MATERIALLY AND ADVERSELY  AFFECTED BY A DOWNTURN
IN THE FINANCIAL SERVICES INDUSTRY

     We are  dependent  upon  the  continued  demand  for  the  distribution  of
investment research and other information over the Internet, making our business
susceptible to a downturn in the financial services industry. In addition,  U.S.
financial institutions are continuing to consolidate, increasing the leverage of
our  information  providers  to  negotiate  prices and  decreasing  the  overall
potential  market for some of our services.  Weakness in the financial  services
industry  could also adversely  impact our  subscription  renewal  rates.  These
factors,  as well as other changes occurring in the financial services industry,
could have a material and adverse effect on our business,  results of operations
and financial condition.

MULTEX.COM'S  BUSINESS WOULD BE MATERIALLY AND ADVERSELY  AFFECTED IF THE MARKET
FOR ONLINE INVESTMENT RESEARCH DOES NOT CONTINUE TO GROW

     In order to be successful,  we must increase our revenues from subscription
fees  for  MULTEXNET,  from  development,  hosting  and  subscription  fees  for
MULTEXEXPRESS,   generate   additional   sales  of  investment   research  on  a
pay-per-view  basis through MULTEX OnDemand,  attract more users to and generate
more leads for our sponsors from MULTEX  INVESTOR and increase the total license
fees generated from the MARKET GUIDE  database.  We face risks in  accomplishing
these objectives, among others, relating to our ability to:

o    anticipate and adapt to the changing Internet market;

o    attract and retain more subscribers,  research and data  contributors,  and
     technology and business partners;

o    implement our sales, marketing, and branding strategies,  both domestically
     and internationally;

o    attract, retain and motivate qualified personnel;

o    respond  to  actions  taken  by our  competitors;

o    continue to build an  infrastructure  to effectively  manage our growth and
     handle any future increased usage; and

o    integrate acquired businesses, technologies, products and services.

     If we are  unsuccessful  in  addressing  these  risks or in  executing  our
business strategy, our business,  results of operations, and financial condition
would be materially and adversely affected.

                                       15
<PAGE>


THE MARKETS FOR OUR PRODUCTS AND SERVICES ARE RAPIDLY CHANGING

     The  market  for  the   distribution  of  investment   research  and  other
information  over the  Internet  is  rapidly  evolving,  and  demand  and market
acceptance  for  these  services  continue  to be  subject  to a high  level  of
uncertainty.

     Because  the market for our  services is still  relatively  new and rapidly
evolving, it is difficult to predict with any assurance the growth rate, if any,
and the ultimate size, of this market.  We cannot assure you that the market for
our services  will  continue to develop or that our  services  will ever achieve
broad market acceptance.  If the market for our services weakens,  develops more
slowly than expected, or becomes saturated with competitors;  if our services do
not  achieve  broad  market  acceptance;   or  if  pricing  becomes  subject  to
significant  competitive  pressures,  our business,  results of  operations  and
financial condition would be materially and adversely affected.

MULTEX.COM'S BUSINESS COULD BE MATERIALLY AND ADVERSELY AFFECTED BY PRESSURES OF
COMPETITION

     The  market  for  the   distribution  of  investment   research  and  other
information over the Internet is intensely  competitive.  Increased  competition
could  result in price  reductions,  reduced  gross  margins  and loss of market
share,  any of which could have a material and adverse  effect on our  business,
results of operations  and  financial  condition.  We currently  face direct and
indirect competition,  for contributors of investment research and other reports
and for subscribers,  from large and well-established  distributors of financial
information,  such as Thomson Financial Services.  Some of our competitors enjoy
exclusive distribution  arrangements with major financial institutions.  We also
compete with:

o    companies that provide investment research,  including investment banks and
     brokerage firms, many of whom have their own Web sites;

o    other  providers of either free or  subscription  research  services on the
     Internet;

o    services  provided  by  some  of  our  strategic  distributors,  which  are
     competitive in one or more respects with our service offerings;

o    numerous prospective competitors, including Standard & Poor's, Moody's, and
     Zacks Investment Research, that offer investment research-based services;

o    various  written  publications,  including  traditional  media,  investment
     newsletters,  personal financial  magazines and industry research appearing
     in financial periodicals;

o    services provided by in-house management information services personnel and
     independent systems integrators;

o    providers  of annual  reports and other  filings  with the  Securities  and
     Exchange Commission;

o    Standard & Poor's company-specific reports; and

o    Value Line investment research reports.


     If we fail to  successfully  compete  with these  entities  or  information
sources,  our business,  results of operations,  and financial  condition may be
materially  adversely  affected.  It is also possible that new  competitors  may
emerge and rapidly acquire significant market share.

RAPID GROWTH IN  MULTEX.COM'S  FUTURE  OPERATIONS  COULD STRAIN OUR  MANAGERIAL,
OPERATIONAL AND FINANCIAL RESOURCES

     We have experienced  rapid growth in our operations.  This rapid growth has
placed,  and our anticipated future growth will continue to place, a significant
strain on our  managerial,  operational  and  financial  resources,  that if not
properly  managed,  could materially  adversely affect our business,  results of
operations, and financial condition.

THE LOSS OF ANY OF MULTEX.COM'S  KEY PERSONNEL COULD HAVE A MATERIAL AND ADVERSE
EFFECT

     Our future  success will depend,  in  substantial  part,  on the  continued
service of our senior  management,  including  Mr. Isaak  Karaev,  our Chairman,
President and Chief Executive  Officer,  and key technical and sales  personnel,
none of whom has  entered  into an  employment  agreement  with us other  than a
non-competition/non-

                                       16
<PAGE>


disclosure  agreement.  We  maintain a key person life  insurance  policy in the
amount of $2.0  million on the life of Mr.  Karaev.  The loss of the services of
one or more of our key personnel could have a material and adverse effect on our
business,  results of operations and financial  condition.  We have from time to
time in the past  experienced,  and we expect to continue to  experience  in the
future,  difficulty  in hiring  and  retaining  highly  skilled  employees  with
appropriate qualifications.

MULTEX.COM'S INTERNATIONAL OPERATIONS ARE NEW AND MAY NOT BE SUCCESSFUL. WE HAVE
ONLY LIMITED BUSINESS EXPERIENCE OUTSIDE OF THE UNITED STATES

     A key component of our strategy is to continue to expand our  international
operations. To date, we have only limited experience in developing and obtaining
research and other financial  information relating to companies whose securities
are traded on foreign  markets and in marketing,  selling and  distributing  our
services  internationally.  The failure to gain the necessary  experience,  hire
appropriate  personnel,  and  enter  into key  business  relationships  in these
markets  could have a material and adverse  effect on our  business,  results of
operations and financial condition.

DOING BUSINESS INTERNATIONALLY SUBJECTS US TO ADDITIONAL REGULATORY
REQUIREMENTS, TAX LIABILITIES AND OTHER RISKS

     There  are risks  inherent  in doing  business  in  international  markets,
including unexpected changes in regulatory requirements, potentially adverse tax
consequences,   export  restrictions  and  controls,  tariffs  and  other  trade
barriers,  difficulties in staffing and managing foreign  operations,  political
instability, fluctuations in currency exchange rates, and seasonal reductions in
business  activity during the summer months in Europe and various other parts of
the world,  any of which could have a material and adverse effect on the success
of our international operations and, consequently,  on our business,  results of
operations  and  financial  condition.  Furthermore,  we cannot  assure you that
governmental  regulatory  agencies  in one or more  foreign  countries  will not
determine  that  the  services  provided  by  us  constitute  the  provision  of
investment  advice,  which  could  result  in our  having to  register  in these
countries  as an  investment  advisor  or in our  having  to cease  selling  our
services in these  countries,  either of which could have a material and adverse
effect on our business, results of operations and financial condition.

BECAUSE MULTEX.COM'S BUSINESS IS DEPENDENT UPON NETWORK AND COMPUTER SYSTEMS
LOCATED IN ONE AREA, WE ARE SUSCEPTIBLE TO PROBLEMS CAUSED BY NATURAL DISASTERS,
POWER FAILURES, SYSTEM FAILURES, SECURITY BREACHES OR OTHER DAMAGE TO OUR SYSTEM

     Our electronic  distribution of investment  research  utilizes  proprietary
technology  that  resides  principally  in New  York  City.  The  continued  and
uninterrupted performance of our network and computer systems is critical to our
success. Any disaster,  power outage or system failure that causes interruptions
in our ability to provide our services to our customers, including failures that
affect our ability to collect research from our information providers or provide
electronic  investment research to our users, could reduce customer satisfaction
and, if sustained or repeated,  would reduce the attractiveness of our services.
An increase in the volume of research reports handled by our systems,  or in the
rate of requests for this research, could strain the capacity of our software or
hardware,  which  could  lead to  slower  response  times  or  system  failures.
Furthermore,  we face the risk of a security  breach of our  systems  that could
disrupt the  distribution  of research and other  reports and  information.  Our
business,  results of operations and financial condition could be materially and
adversely affected if any of these problems occur.

     Our  operations  are  dependent  on our  ability to protect our network and
computer  systems against damage from computer  viruses,  fire, power loss, data
communications  failures,  vandalism  and  other  malicious  acts,  and  similar
unexpected  adverse  events.  In  addition,  a  failure  of  our  communications
providers to provide the data communications capacity in the time frame required
by us for any reason could cause  interruptions in the delivery of our services.
Despite precautions we have taken,  unanticipated problems affecting our systems
have from time to time in the past caused, and in the future could cause, delays
and  interruptions  in the delivery of our  services.  Although we carry general
liability  insurance,  our  insurance  may not cover any claims by  dissatisfied
customers  or  subscribers  or may  not be  adequate  to  indemnify  us for  any
liability that may be imposed in the event that claims were brought against us.

                                       17
<PAGE>


THE MARKET PRICE OF OUR SHARES MAY EXPERIENCE EXTREME PRICE AND VOLUME
FLUCTUATIONS

     The stock  market has,  from time to time,  experienced  extreme  price and
volume  fluctuations.  The market prices of the  securities of  Internet-related
companies have been especially volatile,  including  fluctuations that are often
unrelated to the operating  performance of the affected companies.  Broad market
fluctuations  of this type may  adversely  affect the market price of our common
stock.  The market  price of our common  stock  could be subject to  significant
fluctuations due to a variety of factors, including:

o    public  announcements  concerning  us or our  competitors,  or the Internet
     industry;

o    fluctuations in operating results;

o    a downturn in the financial  services industry  generally or the market for
     securities trading in particular;

o    introductions of new products or services by us or our competitors;

o    changes in analysts' earnings estimates; and

o    announcements of technological innovations.


     In the past, companies that have experienced volatility in the market price
of their stock have been the object of securities class action litigation. If we
were the  object of  securities  class  action  litigation,  it could  result in
substantial  costs and a diversion of our  management's  attention and resources
and have a material  adverse  effect on our  business,  results of operation and
financial condition.

OUR EXECUTIVE OFFICERS, DIRECTORS AND 5% OR GREATER STOCKHOLDERS SIGNIFICANTLY
INFLUENCE ALL MATTERS REQUIRING A STOCKHOLDER VOTE

     Our executive  officers,  directors and existing  stockholders who each own
greater than 5% of the  outstanding  common stock and their  affiliates,  in the
aggregate,  beneficially own approximately 50% of our outstanding  common stock.
As a result, our executive  officers,  directors and 5% or greater  stockholders
will be able to  significantly  influence  the outcome of all matters  requiring
approval by our  stockholders,  including the election of directors and approval
of significant corporate transactions.  This concentration of ownership may also
have the effect of delaying or preventing a change in control.

THE FUTURE SALE OF SHARES OF OUR COMMON STOCK MAY NEGATIVELY AFFECT OUR STOCK
PRICE

     If our stockholders sell substantial amounts of our common stock, including
shares  issuable  upon the exercise of  outstanding  options and warrants in the
public market, the market price of our common stock could fall. These sales also
might make it more difficult for us to sell equity securities in the future at a
time and price that we deem appropriate.

DISTRIBUTION AND OTHER FEES TO RESEARCH PROVIDERS AND STRATEGIC PARTNERS
INCREASE MULTEX.COM'S COSTS

     Royalties and  distribution  fees payable to our information  providers and
strategic partners to obtain distribution rights to research reports included in
MULTEX ONDEMAND constitute a significant portion of our cost of revenues.  If we
are  required to increase the  royalties  or fees  payable to these  information
providers or strategic partners,  these increased payments could have a material
and  adverse  effect  on our  business,  results  of  operations  and  financial
condition.

THE INADVERTENT DISTRIBUTION OF RESEARCH REPORTS COULD RESULT IN A CLAIM FOR
DAMAGES AGAINST MULTEX.COM OR HARM OUR REPUTATION

     Under certain of our contracts we are required to restrict  distribution of
financial  information  to those users who have been  authorized  or entitled to
access the report by the information provider. We might inadvertently distribute
a particular report to a user who is not so authorized or entitled,  which could
subject us to a claim for  damages by the  information  provider  or which could
harm our  reputation in the  marketplace,  either of which could have a material
and  adverse  effect  on our  business,  results  of  operations  and  financial
condition.

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<PAGE>


WE MAY BE SUBJECT TO LEGAL CLAIMS IN CONNECTION WITH THE CONTENT WE PUBLISH AND
DISTRIBUTE ON THE INTERNET

     As a publisher and distributor of online content,  we face potential direct
and indirect liability for claims of defamation,  negligence,  copyright, patent
or trademark  infringement,  violation of the  securities  laws and other claims
based upon the reports and data that we publish.  For example, by distributing a
negative investment research report, we may find ourselves subject to defamation
claims,  regardless  of the merits of such  claims.  Computer  failures or human
error may also result in incorrect data being published and distributed  widely.
In these and other  circumstances,  we might be required to engage in protracted
and expensive litigation,  which could have the effect of diverting management's
attention and require us to expend significant financial resources.  Our general
liability  insurance may not cover any of these claims or may not be adequate to
protect us against all  liability  that may be imposed.  Any claims or resulting
litigation could have a material and adverse effect on our business,  results of
operations and financial condition.

IF THE INTERNET INFRASTRUCTURE IS NOT ADEQUATELY MAINTAINED, WE MAY BE UNABLE TO
PROVIDE INVESTMENT RESEARCH AND INFORMATION SERVICES IN A TIMELY MANNER

     Our future success will depend,  in substantial  part, upon the maintenance
of the Internet  infrastructure,  including a reliable network backbone with the
necessary  speed,  data capacity and  security,  and the timely  development  of
enabling  products  for  providing  reliable  and  timely  Internet  access  and
services. We cannot assure you that the Internet infrastructure will continue to
be  able  to  support  the  demands  placed  on it or that  the  performance  or
reliability  of the Internet will not be adversely  affected.  Furthermore,  the
Internet  has  experienced  a variety of outages and other delays as a result of
damage to portions of its  infrastructure  or  otherwise,  and these  outages or
delays could adversely affect the web sites of our contributors,  subscribers or
distributors.  In addition,  the Internet  could lose its viability as a form of
media  due to  delays  in the  development  or  adoption  of new  standards  and
protocols  that can handle  increased  levels of activity.  We cannot assure you
that the  infrastructure  and complementary  products and services  necessary to
maintain  the  Internet  as a viable  commercial  medium  will be  developed  or
maintained.

WE MAY BECOME SUBJECT TO BURDENSOME GOVERNMENT REGULATION AND LEGAL
UNCERTAINTIES

     The laws  governing the Internet  remain largely  unsettled,  even in areas
where  there has been some  legislative  action.  Legislation  could  dampen the
growth in the use of the Internet  generally and decrease the  acceptance of the
Internet as a communications and commercial medium,  which could have a material
and  adverse  effect  on our  business,  results  of  operations  and  financial
condition. In addition, due to the global nature of the Internet, it is possible
that,  although  transmissions  relating to our services originate mainly in the
State of New York,  governments  of other  states,  the United States or foreign
countries might attempt to regulate our services or levy sales or other taxes on
our activities. We cannot assure you that violations of local or other laws will
not be alleged or charged by local, state, federal or foreign governments,  that
we might not  unintentionally  violate these laws or that these laws will not be
modified,  or new laws enacted,  in the future.  Any of these developments could
have a material and adverse  effect on our business,  results of operations  and
financial condition.

                                       19
<PAGE>


                           PART II. OTHER INFORMATION

ITEM 1.       LEGAL PROCEEDINGS

     On and after May 8, 2001, three securities class action lawsuits were filed
against the Company,  certain of our current and former  officers and directors,
and a number of investment  banks,  including  some of the  underwriters  of our
initial public  offering.  The lawsuits were filed in the United States District
Court for the Southern  District of New York. The lawsuits assert claims against
us pursuant to Sections 11 and 15 of the Securities Act of 1933, and pursuant to
Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as well as Rule
10b-5 promulgated thereunder.  Plaintiffs allege that the underwriter defendants
agreed to allocate stock in our initial public offering to certain  investors in
exchange for  excessive  and  undisclosed  commissions  and  agreements by those
investors  to  make  additional   purchases  of  stock  in  the  aftermarket  at
pre-determined  prices.  Plaintiffs  allege that the  prospectus for our initial
public  offering was false and  misleading in violation of the  securities  laws
because it did not disclose  these  arrangements.  We and our current and former
officers and directors intend to vigorously  defend the actions.  We expect that
the lawsuits will be  consolidated  and that plaintiffs will file a consolidated
complaint.  We intend to file a motion to dismiss that  complaint.  We are aware
that  approximately  110 other  companies  have been  named in nearly  identical
lawsuits.

     While the  outcome  of the  claims  against  us cannot  be  predicted  with
certainty,  management  does not believe that the outcome of these legal matters
will have a material  adverse  effect on our results of  operations or financial
condition.


ITEM 2.       CHANGES IN SECURITIES AND USE OF PROCEEDS

              NONE

ITEM 3.       DEFAULTS UPON SENIOR SECURITIES

              NONE

ITEM 4.       SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

              NONE

ITEM 5.       OTHER INFORMATION

              NONE

ITEM 6.       EXHIBITS AND REPORTS ON FORM 8-K

(a)               Exhibits:                 NONE

(b)               Reports on Form 8-K:      NONE

                                       20
<PAGE>


ITEM 7.       SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act, the Registrant
has duly  caused  this  report  to be signed  on its  behalf by the  undersigned
thereunto duly authorized.

                                  MULTEX.COM, INC.
                                  (Registrant)


Date:  August 14, 2001                   /s/ Isaak Karaev
                                  ---------------------------------------------
                                  Name:  Isaak Karaev
                                  Title: Chief Executive Officer


Date:  August 14, 2001                 /s/ John J. McGovern
                                  ---------------------------------------------
                                  Name:  John J. McGovern
                                  Title: Chief Financial Officer

                                       21