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

                                UNITED STATES
                    SECURITIES AND EXCHANGE COMMISSION
                           Washington, D.C. 20549

                                  ---------
                                  FORM 10-Q
                                  ---------

(Mark One)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE
    ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 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: 0-27741


                                 Viador Inc.
            (Exact name of registrant as specified in its charter)

             DELAWARE                                94-3234636
   (State or other jurisdiction of     (I.R.S. Employer Identification Number)
    incorporation or organization)



                       2000 Charleston Road, Suite 1000
                        Mountain View, California 94043
            (Address of principal executive offices) (Zip Code)

                       Telephone Number (650) 645-2000
           (Registrant's telephone number, including area code)



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 May 10, 2001, there were 18,299,586 shares of the Registrant's Common
Stock outstanding, par value $0.001 per share.

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

<PAGE>
                                  VIADOR INC.

                                  FORM 10-Q

                                    INDEX

                       FOR QUARTER ENDED MARCH 31, 2001


<TABLE>
<CAPTION>
                                                                          Page
                                                                          ----
<S>     <C>                                                              <C>

                        PART I - FINANCIAL INFORMATION

ITEM 1. Condensed Consolidated Financial Statements

          Condensed Consolidated Balance Sheets - March 31, 2001
            (unaudited) and December 31, 2000.............................  3

          Condensed Consolidated Statements Of Operations -
            Three Months Ended March 31, 2001 and 2000 (unaudited)........  4

          Condensed Consolidated Statements of Cash Flows - Three
            Months Ended March 31, 2001 and 2000 (unaudited)..............  5

          Notes to Condensed Consolidated Financial Statements (unaudited)  6

ITEM 2. Management's Discussion and Analysis of Financial Condition
          and Results of Operations....................................... 12

ITEM 3. Quantitative and Qualitative Disclosures about Market Risk........ 30


                       PART II - OTHER INFORMATION

ITEM 1. Legal Proceedings................................................. 31

ITEM 2. Changes in Securities and Use of Proceeds......................... 31

ITEM 5. Other Information................................................. 32

ITEM 6. Exhibits and Reports on Form 8-K.................................. 32

Signatures................................................................ 35


</TABLE>


                                       2


<PAGE>

PART I - FINANCIAL INFORMATION

ITEM I.  Financial Statements

                                VIADOR INC.
                  CONDENSED CONSOLIDATED BALANCE SHEETS
                              (In thousands)

<TABLE>
<CAPTION>

                                                       March 31,   December 31,
                                                         2001         2000
                                                         ----         ----
                                                     (Unaudited)
<S>                                                    <C>          <C>
ASSETS
Current assets:
  Cash and cash equivalents..........................   $ 1,046      $15,955
  Accounts receivable, net of allowance of
    $1,250, and $2,033, respectively.................     6,849        7,072
  Other current assets...............................     1,989        1,870
                                                        -------      -------
    Total current assets.............................     9,884       24,897
Property and equipment, net..........................     4,461        4,357
Capitalized software development costs, net..........     2,124        2,453
Goodwill and other intangibles, net..................     1,600        1,705
Other assets.........................................     2,240        2,203
                                                        -------      -------
    Total assets.....................................   $20,309      $35,615
                                                        =======      =======

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
  Notes payable......................................   $    --      $ 6,000
  Accounts payable...................................     2,289        1,376
  Accrued liabilities................................     1,919        3,640
  Accrued vacation...................................       804        1,052
  Accrued bonus......................................       317        1,035
  Accrued restructuring expense......................       365          693
  Deferred revenue...................................     4,008        4,654
                                                        -------      -------
    Total liabilities................................     9,702       18,450
                                                        -------      -------
Stockholders' equity:
  Convertible preferred stock, $0.001 par value; -
    10,000,000 shares authorized as of March 31,
    2001 and December 31, 2000; none issued and
    outstanding as of March 31, 2001 and December
    31, 2000.........................................        --           --
  Common stock, $0.001 par value: 100,000,000 shares
    authorized as of March 31, 2001 and December 31,
    2000; 18,240,032 and 18,199,399 shares issued and
    outstanding as of March 31, 2001 and December 31,
    2000, respectively...............................        19           19
  Additional paid-in capital.........................    71,437       71,431
  Deferred stock-based compensation..................    (1,507)      (1,759)
  Treasury stock.....................................       (34)          (34)
  Notes receivable from stockholders.................      (123)         (123)
  Accumulated deficit................................   (59,160)      (52,316)
  Accumulated other comprehensive income (loss)......       (25)          (53)
                                                        -------       -------
    Total stockholders' equity.......................    10,607        17,165
                                                        -------       -------
    Total liabilities and stockholders' equity.......   $20,309       $35,615
                                                        =======       =======

</TABLE>


See accompanying notes to condensed consolidated financial statements.


                                       3


<PAGE>

                                  VIADOR INC.
                 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                      (In thousands, except per share data)
                                  Unaudited

<TABLE>
<CAPTION>
                                                        Three Months Ended
                                                     ------------------------
                                                       March 31,    March 31,
                                                         2001         2000
                                                         ----         ----
<S>                                                   <C>            <C>
Revenue:
  License...........................................   $  2,254       $  4,193
  Service...........................................      1,361          1,125
                                                       --------       --------
    Total revenue...................................      3,615          5,318
Cost of revenue.....................................      2,214          1,617
                                                       --------       --------
    Gross profit....................................      1,401          3,701
                                                       --------       --------
Operating expenses:
  Sales and marketing...............................      4,586          6,256
  Research and development..........................      1,949          1,306
  General and administrative........................      1,487          1,385
  Amortization of goodwill..........................        107             67
  Amortization of stock-based compensation*.........        204            334
                                                       --------       --------
    Total operating expenses........................      8,333          9,348
                                                       --------       --------
Operating loss......................................     (6,930)        (5,647)
Interest income, net................................         86            435
                                                       --------       --------
    Net loss........................................   $ (6,844)      $ (5,212)
                                                       ========       ========

Basic and diluted net loss per share................   $  (0.38)      $  (0.31)
                                                       ========       ========

Shares used in computing basic and diluted net
  loss per share....................................     18,197         17,023
                                                       ========       ========

</TABLE>


*     The allocation of the amortization of stock-based compensation relates to
the expense categories is set forth below (in thousands):


<TABLE>
<CAPTION>
                                                        Three Months Ended
                                                     ------------------------
                                                       March 31,    March 31,
                                                         2001         2000
                                                         ----         ----
<S>                                                   <C>            <C>
Cost of revenue.....................................   $      2       $      4
Sales and marketing.................................         51             95
Research and development............................         53            101
General and administrative..........................         98            134
                                                       --------       --------
                                                       $    204       $    334
                                                       ========       ========

</TABLE>

See accompanying notes to condensed consolidated financial statements.

                                       4

<PAGE>


                                 VIADOR INC.
                CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                (In thousands)
                                  Unaudited

<TABLE>
<CAPTION>
                                                          Three Months Ended
                                                       ------------------------
                                                         March 31,   March 31,
                                                           2001        2000
                                                           ----        ----
<S>                                                     <C>          <C>
Cash flows from operating activities:
Net loss..............................................   $ (6,844)    $ (5,212)
Adjustments to reconcile net loss to net cash used
  in operating activities:
  Depreciation and amortization.......................        859          478
  Amortization of deferred stock-based compensation...        204          334
  Warrants issued in conjunction with joint marketing.         48           --
  Changes in operating assets and liabilities:
    Accounts receivable...............................        223       (2,070)
    Other current assets..............................      (119)        (740)
    Other assets......................................        (37)        (360)
    Accounts payable, accrued liabilities and
     accrued vacation.................................     (1,774)       3,465
    Accrued restructuring.............................       (328)          --
    Deferred revenue..................................       (646)         (15)
                                                         --------     --------
      Net cash used in operating activities...........     (8,414)      (4,120)
                                                         --------     --------
Cash flows from investing activities:
  Capital expenditures................................       (436)      (2,997)
  Purchase of short-term investment...................         --      (31,551)
  Rent paid in advance................................         --         (500)
  Security deposit....................................         --       (1,697)
  Capitalization of software development costs........       (93)      (1,589)
  Acquisition of business, net of cash acquired.......         --         (883)
                                                         --------     --------
      Net cash used in investing activities...........       (529)     (39,217)
                                                         --------     --------
Net cash provided by financing activities:
  Repayment of bank line of credit....................     (5,000)          --
  Repayment of note payable from business acquisition.     (1,000)          --
  Proceeds from issuance of common stock..............          6           34
                                                         --------     --------
      Net cash provided by (used in)
        financing activities..........................     (5,994)          34
                                                         --------     --------
  Effect of exchange rate on cash and cash equivalents         28           --
                                                         --------     --------
      Net decrease in cash and cash equivalents.......    (14,909)     (43,303)
                                                         --------     --------
Cash and cash equivalents, beginning of period........     15,955       44,720
                                                         --------     --------
Cash and cash equivalents, end of period..............   $  1,046     $  1,417
                                                         ========     ========

Supplemental disclosures of cash flow information:
   Cash paid for interest..............................  $      3     $     13
                                                         ========     ========
Non-cash financing activities:
 Warrants issued.......................................  $     --     $  1,529
                                                         ========     ========
 Notes payable in partial payment for
   business acquisition................................  $     --     $  1,000
                                                         ========     ========

</TABLE>

See accompanying notes to condensed consolidated financial statements.


                                       5
<PAGE>
                                 VIADOR INC.
             NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                 (Unaudited)


Note 1.  Basis of Presentation
------   ---------------------

     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.  The results of operations for the
interim periods presented are not necessarily indicative of the results
expected for any subsequent quarter or for the entire year ending December 31,
2001. These condensed consolidated financial statements and the notes included
herein should be read in conjunction with the Company's audited financial
statements and notes for the year ended December 31, 2000 included in the
Company's Annual Report on Form 10-K for the fiscal year ended December 31,
2000.

     The condensed consolidated financial statements have been prepared on a
going concern basis, which contemplates, among other things, the realization of
assets and the satisfaction of liabilities in the normal course of business.
The Company's recurring net losses, including net losses of $6.8 million and
$29.3 million for the three months ended March 31, 2001 and for the year ended
December 31, 2000, respectively, raise substantial doubt regarding the
Company's ability to continue as a going concern. In 2000, the Company's
revenue was not sufficient to support its operations, and revenue will not be
sufficient to support operations until such time, if any, that the Company's
enterprise information portal software gains substantial market acceptance. The
Company expects to continue to use cash in operations and incur operating
losses in the foreseeable future. The Company needs to obtain additional
funding to sustain its operations through 2001 and is currently in discussions
with third parties to obtain such funding, although to date no commitments for
funding have been obtained. Management believes that the successful completion
of these actions will allow the Company to continue as a going concern.
However, the consolidated financial statements do not include any adjustments
relating to the recoverability and classification of recorded asset amounts or
the amount and classification of liabilities or any other adjustments that
might be necessary should the Company be unable to continue as a going concern.
If the Company does not obtain additional cash funding, the carrying amounts of
certain assets, including property, equipment, goodwill and capitalized
software development costs may not be recovered.


Note 2.  Summary of Significant Accounting Policies
-------  ------------------------------------------

    (a) Use of Estimates
        ----------------

      The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amounts of expenses during the reporting period.
Actual results could differ from those estimates.

    (b) Revenue Recognition
        -------------------

     The Company licenses its software products to end user customers, original
equipment manufacturers (OEM) and value added resellers (VAR). Software license
revenue from sales to end users is generally recognized upon receipt of a
signed contract or purchase order and delivery of the software, provided the
related fee is fixed and determinable and collectibility of the fee is probable
and vendor-specific objective evidence for all undelivered elements has been
established. The Company has established sufficient vendor-specific objective
evidence to ascribe a value to consulting services and post-contract customer
support based on the price charged when these elements are sold separately.
Accordingly, license revenue is recorded under the residual method described in
SOP 98-9 for arrangements in which licenses are sold with consulting services,
post-contract customer support or both. However, the entire fee related to
arrangements that require the Company to deliver specified additional features
or upgrades is deferred until delivery of the feature and/or upgrade has
occurred, unless the Company has sufficient vendor-specific objective evidence
of fair value to allocate revenue to the various elements in these
arrangements. Fees related to arrangements that require the Company to deliver
unspecified additional products are deferred and recognized ratably over the
term of the contract. All of the contract software revenue related to
arrangements involving consulting services that are essential to the
functionality of the software at the customer site is deferred and recognized
as the services are performed.

                                       6

<PAGE>

                                  VIADOR INC.
       NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (CONTINUED)
                                 (Unaudited)

     Software revenue related to arrangements to maintain the compatibility of
the company's software products with the software products or platforms of the
customer or other vendor is recognized ratably over the term of the
arrangement. License revenue from OEM arrangements in which the Company earns a
royalty based on a specified percentage of OEM sales to end users incorporating
the Company's software is recognized upon delivery by the OEM to the end user.
Nonrefundable prepaid royalty fees received by the Company from OEM customers
are recognized when evidence provides that all the other conditions of SOP 97-
2, as amended, have been satisfied.

     Professional service revenue consists of fees from professional services
including integration of software, application development, training and
software installation. The Company bills professional services fees on a time
and materials basis. The Company recognizes professional services fees as the
services are performed.

     Customers typically purchase post-contract customer support agreements
annually, which are priced based on a fixed percentage of the product license
fee. The Company recognizes revenue allocated to post-contract customer support
agreements ratably over the term of the agreements, which are typically one
year.

     Cost of license revenue includes royalties due to third parties for
integrated technology, the cost of manuals and product documentation,
production media used to deliver our products and shipping costs, including the
costs associated with the electronic transmission of software to new customers,
amortization of capitalized software development costs, and an allocation of
our facilities, communications and depreciation expenses. Cost of service
revenue includes salaries and related expenses for consulting services,
customer support, implementation and training services organizations, and costs
of contracting with third parties that provide services to customers.

      (c) Comprehensive Income (Loss)
          ---------------------------

     SFAS No. 130 "Reporting Comprehensive Income," establishes standards for
the reporting and display of comprehensive income and its components in the
financial statements. Items of comprehensive income (loss) that the Company
currently reports are unrealized gains and losses on marketable securities
categorized as available-for-sale and foreign currency translation adjustments.
The Company displays comprehensive income and its components on its
Consolidated Statements of Stockholders' Equity.

     The components of comprehensive loss, net of tax, for the three months
ended March 31, 2001 and 2000 were as follows (in thousands):

<TABLE>
<CAPTION>
                                                          Three Months Ended
                                                       ------------------------
                                                         March 31,    March 31,
                                                           2001         2000
                                                           ----         ----
<S>                                                     <C>          <C>
Net loss...............................................   $(6,844)     $(5,212)
Other comprehensive income (loss):
  Foreign currency translation adjustments.............       (28)          --
                                                          -------      -------
    Total comprehensive loss...........................   $(6,872)     $(5,212)
                                                          =======      =======

</TABLE>


      (d) Foreign Currency and Equity Hedging Instruments
          -----------------------------------------------

     Effective January 1, 2001, we adopted Financial Accounting Standards Board
(FASB) SFAS No. 133, Accounting for Derivative Instruments and Hedging
Activities. SFAS No. 133 establishes accounting and reporting standards for
derivative financial instruments and hedging activities related to those
instruments, as well as other hedging activities.  Because the Company does not
currently hold any derivative instruments and does not engage in hedging
activities, the adoption of SFAS No. 133 did not have a material impact on our
financial position, results of operations or cash flows.

     (e) Software Development Costs
         --------------------------

     The Company accounts for its software development expenses in accordance
with Statement of Financial Accounting Standards No. 86, "Accounting for the
Costs of Computer Software to Be Sold, Leased, or Otherwise Marketed". This
statement requires that, once technological feasibility of a new product
enhancement has been established, all subsequent


                                       7

<PAGE>

                                  VIADOR INC.
       NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (CONTINUED)
                                 (Unaudited)

costs incurred in developing that product or enhancement to a commercially
acceptable level be capitalized and amortized. The Company uses a detailed
program design working model approach in determining technological feasibility.
Capitalized software development costs amounted to approximately $3.5 million
and $1.6 million as of March 31, 2001 and 2000, respectively.  All software
costs are amortized as a cost of revenue either on a straight-line basis, or on
the basis of each product's projected revenues, whichever results in greater
amortization, over the remaining estimated economic life of product, which is
generally estimated to be two years. The Company recorded amortization of
approximately $423,000 and none for the three months ended March 31, 2001 and
2000, respectively, in cost of revenue.

      (f) Impairment of Long-Lived Assets
          -------------------------------

     The Company evaluates its long-lived assets, including goodwill, for
impairment whenever events or changes in circumstances indicate that the
carrying amount of an asset may not be recoverable. Recoverability of assets to
be held and used is measured by a comparison of the carrying amount of an asset
to future undiscounted net cash flows expected to be generated by the asset. If
such assets are considered to be impaired, the impairment to be recognized is
measured by the amount by which the carrying amount of the assets exceeds the
fair value of the assets. Assets to be disposed of are reported at the lower of
the carrying amount of the assets or fair value less costs to sell.

      (g) Recent Accounting Pronouncements
          --------------------------------

     In March 2000, the Emerging Issues Task Force (the ''EITF'') published its
consensus on Issue No. 00-2, ''Accounting for Web Site Development Costs,''
which requires that costs incurred during the development of Web site
applications and infrastructure involving developing software to operate the
Web site, including graphics that affect the ''look and feel'' of the Web page
and all costs relating to software used to operate a Web site should be
accounted for under Statement of Position 98-1 (''SOP 98-1''), 'Accounting for
the Costs of Computer Software Developed or Obtained for Internal Use.''
However, if a plan exists or is being developed to market the software
externally, the costs relating to the software should be accounted for pursuant
to Statement of Financial Accounting Standards No. 86 (''SFAS 86''),
''Accounting for the Costs of Computer Software to Be Sold, Leased, or
Otherwise Marketed.'' We adopted Issue No. 00-2 in our fourth quarter of fiscal
2000. The adoption of Issue No. 00-2 did not have a material impact on our
financial position or results of operations.

Note 3.  Stock-Based Compensation
------   ------------------------

     The Company applies the intrinsic value-based method of accounting
prescribed by Accounting Principles Board ("APB") Opinion No. 25, "Accounting
for Stock Issued to Employees," in accounting for its employee stock option
plan. As such, compensation expense would be recorded on the date of grant only
if the current market price of the underlying stock exceeded the exercise
price. In April 2000, Financial Accounting Standard Board (FASB) issued FASB
Interpretation No.44 ("FIN No. 44"), "Accounting for Certain Transactions
Involving Stock Compensation: An Interpretation of APB No. 25." The Company has
adopted the provisions of FIN No. 44, and such adoption did not materially
impact the Company's results of operations. SFAS No. 123, "Accounting for
Stock-Based Compensation," established accounting and disclosure requirements
using a fair value-based method of accounting for stock-based employee
compensation plans. As allowed by SFAS No. 123, the Company has elected to
continue to apply the intrinsic value-based method of accounting described
above, and has adopted the disclosure requirements of SFAS No. 123.

Note 4.  Net Loss Per Share
------   ------------------

     Basic net loss per share is computed using the weighted-average number of
outstanding shares of common stock excluding shares of restricted stock subject
to repurchase summarized below.  Diluted net loss per share is computed using
the weighted-average number of shares of common stock outstanding excluding
shares of restricted stock subject to repurchase and, when dilutive, shares of
restricted stock to repurchase and potential common shares from restricted
stock options and warrants to purchase common stock using the treasury stock
method and from convertible securities using the "as if converted" basis.  The
following potential common shares have been excluded from the computation of
diluted net loss per share for all periods presented because the effect would
have been antidilutive (in thousands):


                                       8

<PAGE>

                                  VIADOR INC.
       NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (CONTINUED)
                                 (Unaudited)

<TABLE>
<CAPTION>
                                                          Three Months Ended
                                                       ------------------------
                                                         March 31,    March 31,
                                                           2001         2000
                                                           ----         ----
<S>                                                     <C>          <C>
Shares issuable under stock options....................    5,876        4,200
Shares of restricted stock subject to repurchase.......       31           69
Shares issuable pursuant to warrants to purchase common
  Stock................................................       --          100

</TABLE>

     The weighted-average exercise price of stock options was $8.13 and $10.60
per share for the three months ended March 31, 2001 and 2000. The weighted-
average purchase price of restricted stock was $0.76 and $1.90 per share for
the three months ended March 31, 2001 and 2000. The weighted average exercise
price of warrants was $31.44 per share for the three months ended March 31,
2000.


Note 5.  Business Acquisition
------   --------------------

     On January 20, 2000, the Company acquired a distributor in Switzerland
(the acquired company).  The acquisition, recorded under the purchase method of
accounting, included the purchase of all outstanding shares of the acquired
company which, including acquisition costs, resulted in a total purchase price
of $2 million.  The Company paid $1 million in cash at the closing of the
acquisition and issued notes payable of $1 million which has interest at 6
percent interest per annum (due no later than one year following the
anniversary of the acquisition date).  The purchase price has been allocated to
assets acquired and liabilities assumed based on estimated fair market value at
the date of the acquisition as follows (in thousands):

<TABLE>

<S>                                                               <C>
Current assets (include cash acquired of $117).................    $  179
Goodwill.......................................................     2,131
Current liabilities............................................      (277)
                                                                   ------
Total Purchase Price...........................................    $2,033
                                                                   ======

</TABLE>

     Goodwill, which represents the excess of purchase price over value of net
assets acquired, is amortized on a straight-line basis over the expected period
to be benefited, which is five years.  As of March 31, 2001, the unamortized
balance of goodwill was approximately $1.6 million.  Amortization expense
related to goodwill was approximately $107,000 for the three months ended March
31, 2001.

Note 6.  Restructuring Expense and Impairment
------   ------------------------------------

     In December 2000, the Board of Directors approved a restructuring program
designed to streamline the Company's business and to reduce costs, which
resulted in the accrual of a restructuring expense of $693,000 and an
impairment loss of $1,270,000. Restructuring expense includes $234,000 for
severance charges associated with a reduction in our United States and Canadian
workforce (87 positions or 36% or the work force) and $459,000 related to
estimated losses resulting from obligations to pay rent on vacant space. The
impairment loss of $1,270,000 relates to leasehold improvements of $745,000 and
other assets of $986,000 and $339,000 for other deferred charges related to
vacant unused space under a rental agreement. These assets were specifically
identified in the restructuring program. As of March 31, 2001, $ 365,000 of
restructuring expense remains accrued and is expected to be paid by the end of
the second quarter of fiscal 2001. The following table depicts the activity for
the restructuring program for the quarter ended March 31, 2001 (in thousands):


<TABLE>
<CAPTION>
                                  Balance at                Balance at
                                 December 31,     Cash       March 31,
                                     2000       Payments       2001
                                     ----       --------       ----
<S>                                <C>          <C>           <C>
Severance.......................    $234         $(161)         $ 73
Rent............................     459          (167)          292
                                    ----         -----          ----
     Total......................    $693         $(328)         $365
                                    ====         =====          ====

</TABLE>


                                       9

<PAGE>

                                  VIADOR INC.
       NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (CONTINUED)
                                 (Unaudited)

Note 7.  Geographic, Segment and Significant Customer Information
------   --------------------------------------------------------

     The Company has adopted SFAS No. 131, Disclosures about Segments of an
Enterprise and Related Information. SFAS No. 131 establishes standards for the
manner in which public companies report information about operating segments in
annual and interim financial statements. It also establishes standards for
related disclosures about products and services, geographic areas, and major
customers. The method for determining what information to report is based on
the way management organizes the operating segments within the Company for
making operating decisions and assessing financial performance.

     The Company's chief operating decision-maker is considered to be the chief
executive officer ("CEO"). The CEO reviews financial information presented on
an entity level basis accompanied by disaggregated information about revenue by
product type for purposes of making operating decisions and assessing financial
performance. The entity level financial information is identical to the
information presented in the accompanying statements of operations. Therefore,
the Company has determined that it operates in a single operating segment:
Enterprise information portal systems. The disaggregated information reviewed
on a product basis is as follows (in thousands):

<TABLE>
<CAPTION>
                                                       Three Months Ended
                                                            March 31,
                                                       ------------------
                                                          2001      2000
                                                          ----      ----
<S>                                                     <C>       <C>
Revenue:
  License...........................................     $2,254    $4,193
  Services..........................................      1,361     1,125
                                                         ------    ------
    Total revenue...................................     $3,615    $5,318
                                                         ======    ======
</TABLE>

     Significant customer information is as follows:

<TABLE>
<CAPTION>

                           Percentage of Total Revenue    Percentage of
                               Three Months Ended         Total Accounts
                                     March 31               Receivable,
                            --------------------------
                                  2001        2000         March 31, 2001
                                  ----        ----         --------------
<S>                              <C>          <C>               <C>
Customer A.................       22%          7%                10.1%
Customer B.................        9%          3%                 4.6%

</TABLE>

     The Company markets its products mainly from its operations in North
America. International sales are primarily to customers in Canada, Europe and
the Asia-Pacific region. Revenue derived from international sales were 39% and
17% of total revenue for the three months ended March 31, 2001 and 2000,
respectively.


Note 8.  Subsequent Events
------   -----------------

     Restructuring
     -------------

     On April 6, 2001, the Company announced that it is restructuring its
business to focus on three distribution models: e-government with systems
integrators, OEM partnerships and independent resellers. As a result of the new
focus and in an ongoing effort to reduce its costs and preserve cash, the
Company reduced its workforce by 55 people from a previous level of 151 people,
or 37% of its workforce. The reductions were made in functional areas that do
not align with the streamlined distribution model, primarily in direct sales
and marketing with further reductions in the consulting organization. No
amounts are accrued as of March 31, 2001 related to this restructuring.

NASDAQ Notice of Noncompliance
------------------------------

     On April 2, 2001, the Company received notification from Nasdaq that the
Company is not in compliance with minimum bid price listing requirements for
trading on the Nasdaq National Market.  The Company's common stock has


                                      10

<PAGE>

                                  VIADOR INC.
       NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (CONTINUED)
                                 (Unaudited)


failed to maintain a minimum bid price of $1.00 over the last 30 consecutive
trading days as required.  The Company will be provided 90 calendar days, or
until July 2, 2001 to regain compliance.  If at any time before July 2, 2001,
the bid price of the Company's common stock is at least $1.00 for a minimum 10
consecutive trading days, Nasdaq will determine if the Company is in
compliance.  However, if the Company is unable to demonstrate compliance on or
before July 2, 2001, Nasdaq will provide the Company with written notification
that Nasdaq will de-list the Company's common stock.  At that time, however,
the Company may request a review of Nasdaq's determination.  The potential de-
listing of the Company's common stock from the Nasdaq National Market may
affect the trading liquidity and the price of the Company's common stock.


                                      11

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

You should read the following in conjunction with the interim unaudited
consolidated financial statements and related notes. Except for the historical
financial information contained herein, the matters discussed in this Quarterly
Report on Form 10-Q may be considered "forward-looking" statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Act of 1934, as amended. Such statements include
declarations regarding the intent, beliefs or current expectations of Viador
and our management. Such forward-looking statements are not guarantees of
future performance and involve a number of risks and uncertainties. Actual
results could differ materially from those indicated by such forward-looking
statements as a result of certain factors, including, but not limited to, those
set forth under "risks factors" and elsewhere in this quarterly report and in
our other documents filed with the Securities and Exchange Commission,
including our Annual Report on Form 10-K for the fiscal year ended December 31,
2000.  We undertake no obligation to publicly release the results of any
revision to these forward-looking statements, which may be made to reflect
events or circumstances after the dates hereof or to reflect the occurrence of
unanticipated events. Important factors which could cause actual results to
differ materially from those in the forward-looking statements, include but are
not limited to: the company's short operating history which makes it difficult
to predict its future results of operations; the dependence of the company's
revenue upon the company's suite of products; the company's history of
operating losses and expected future losses which could impede its ability to
address the risks and difficulties encountered by companies in new and rapidly
evolving markets; the company's future operating results could fluctuate which
may cause volatility or a decline in the price of the company's stock.


Overview
--------

     We develop and market Internet software that enables businesses to create
enterprise information portals for both business-to-business, or B2B, and
business-to-employee, or B2E, use.  An enterprise information portal gives
users a single browser-based interface with which to quickly and easily access
information from a variety of enterprise data sources. We believe the Viador E-
Portal offers a comprehensive and integrated enterprise information portal that
is specifically designed for the World Wide Web and works with a customer's
existing hardware and software systems, without the need for additional
technology expenditures. It provides our customers with the ability to manage
and share information on a secure and cost-effective basis that can accommodate
significant increases in the number of users and amount of information. As more
users contribute increasing amounts of information to the portal, we believe
our customers are able to increase business productivity and efficiency.

     Historically, we have focused our selling efforts in North America and
derived a significant majority of our revenue from North America. However, we
believe it is important to have an international presence and we intend to
continue to conduct business in markets outside the United States through a
combination of subsidiaries and distributors. We conduct business
internationally through a variety of distribution and service partners. In
Europe we use distributors in the Nordic Region (Norway, Sweden, Denmark),
Italy, France, Greece, Russia, Lebanon and Israel. We have our own direct Sales
and Presales Team in Germany, the UK and Canada.  In Asia, we use distributors
in Japan, Korea, Indonesia, China, Hong Kong, and Thailand.  We intend to
develop new distributorship relationships in Singapore, Australia, Malysia,
Taiwan, and Thailand.  In January 2000, we acquired our distributor in
Switzerland, Viador AG, which is now a wholly-owned subsidiary of our company
and is acting as our European headquarters.

     We were incorporated as Infospace Inc. in California in December 1995.  In
January 1999, we changed our name to Viador Inc., and we subsequently
reincorporated in the State of Delaware.  In October 1999, we raised gross
proceeds of $41.4 million through an initial public offering.  Since our
inception, we have developed web-based products designed to permit our
customers to search, analyze and deliver relevant information to users within
and outside the enterprise.  We delivered our first product, Web-Charts, in
September 1996.  Over the last two years, we introduced more sophisticated web
products and a proprietary web security server product.  In the first quarter
of 1999, we first shipped a fully integrated web-based product suite called the
Viador E-Portal, which integrated our prior product offerings. In the fourth
quarter of 1999, we introduced the Business-to-Business E-Portal, a product and
services offering that is designed to allow personalized communication and
information exchange between businesses.  In the second quarter of 2000, we
introduced Viador Portlets, a technology for easily extending the Viador E-
Portal by adding tightly integrated modules for accessing additional data
sources and applications.  In the fourth quarter of 2000, we introduced Viador
E-Portal Express, a portal user interface that set new standards for
performance and scalability.

                                      12

<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS - (CONTINUED)


Recent Events
-------------

     NASDAQ Notice of Noncompliance
     ------------------------------

     On April 2, 2001, the Company received notification from Nasdaq that the
Company is not in compliance with minimum bid price listing requirements for
trading on the Nasdaq National Market.  The Company's common stock has failed
to maintain a minimum bid price of $1.00 over the last 30 consecutive trading
days as required.  The Company will be provided 90 calendar days, or until July
2, 2001 to regain compliance.  If at any time before July 2, 2001, the bid
price of the Company's common stock is at least $1.00 for a minimum 10
consecutive trading days, Nasdaq will determine if the Company is in
compliance.  However, if the Company is unable to demonstrate compliance on or
before July 2, 2001, Nasdaq will provide the Company with written notification
that Nasdaq will de-list the Company's common stock.  At that time, however,
the Company may request a review of Nasdaq's determination.  The potential de-
listing of the Company's common stock from the Nasdaq National Market may
affect the trading liquidity and the price of the Company's common stock.

     Management Changes
     ------------------

     On May 14, 2001, Dick Warmington was appointed interim chief executive
officer and president of the Company and a member of our Board of Directors.
Mr. Warmington replaces Jonathan Harding who resigned as the Company's chief
executive officer and president and as a member of the Board of Directors on
May 14, 2001.

     On May 7, 2001, Donald A. Cochrane was appointed Vice President of
Worldwide Marketing and Sales to replace Steven Dille, who recently resigned.

     Randolph Marks resigned from our Board of Directors in April 2001.

     Restructuring
     -------------

     During the second half of 2000, adverse economic conditions reduced demand
for software products in general and impaired our revenue growth. In response
to these conditions and to shorten our path to profitability, we decided to
streamline our operations and reduce our expenditure levels.  In furtherance of
these objectives, on January 5, 2001, we reduced our workforce in the United
States by 87 positions, or 36% of our workforce in the United States, and
aggressively cut costs. On April 6, 2001, the Company announced that it is
restructuring its business to focus on three distribution models: e-government
with systems integrators, OEM partnerships and independent resellers. As a
result of the new focus and an ongoing effort to reduce costs and preserve
cash, the Company reduced its workforce by 55 positions out of the remaining
151 positions, or 37% of its workforce in the United States. The reductions
were made in functional areas that do not align with the streamlined
distribution model, primarily in direct sales and marketing with further
reductions in the consulting organization. It is possible that we will have
further cost reductions in the future.

     In connection with the restructuring, the Company also recorded special
charges related to the write-down of leasehold improvements and other assets
related to a facility lease. For further information regarding the write-downs,
see "Management's Discussion and Analysis of Financial Condition and Results of
Operations - Restructuring Expense and Impairment Loss" on page 11.

     Effect of Economic Conditions
     -----------------------------

     The current economic environment has negatively impacted our business.  In
the first half of the year 2000, a more significant portion of our customers
were newly funded dot-coms and internet-related companies that wanted to move
quickly in their buying decisions.  Starting with the second half of the year
2000, our customers have tended to be more analytical buyers and have scaled
down their budgets for capital expenditures.  In addition, potential customers
have questioned our viability as a company since our stock price and cash
balances have generally decreased throughout the year 2000 and the first
quarter of 2001.  These changes have lengthened the sales cycle and reduced the
overall demand for our product. Finally, because it is a difficult environment
for companies in the United States to raise additional funds, we have seen an
increase in the age of our accounts receivables.  As a result, we may
experience higher levels of customer turnover and bad debt allowance.


                                      13

<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS - (CONTINUED)

     We are currently attempting to raise additional financing to fund our
operations.  Absent outside debt or equity financing, and excluding significant
expenditures required for our major projects, we currently anticipate that cash
on hand and anticipated cash flow from operations will only be adequate to fund
our operations in the ordinary course until late in the second quarter of 2001.
Any significant increase in planned capital expenditures or other costs or any
decrease in or elimination of anticipated sources of revenue could cause us to
further restrict our business and product development efforts or to deplete our
available cash at an earlier date.

     We need to find additional funding to finance our operations.  Funding
alternatives may not be available to us within the necessary timeframe, on
favorable terms or at all.  If we do not realize significant additional revenue
or raise additional debt or equity financing, we will be unable to execute our
business development efforts, and we may be unable to continue as a going
concern.


     Segment Presentation
     --------------------

     We manage and evaluate the performance of our business through a single
operating segment: Enterprise information portals.


     Fluctuations in Operating Results
     ---------------------------------

     We expect to experience significant fluctuations in our future results of
operations due to a variety of factors, many of which are outside of our
control, including:

     o demand for and market acceptance of our products and services;

     o our expansion into international markets;

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

     o competitive factors that affect our pricing;

     o the size and timing of customer orders;

     o hiring and retention of key personnel;

     o the mix of products and services we sell;

     o the timing and magnitude of our capital expenditures;

     o conditions specific to the enterprise information portal market and
       other general economic factors.

     Consequently, we believe that period-to-period comparisons of our
operating results are not necessarily meaningful and that such comparisons
cannot be relied upon as indicators of future performance.


Results of Operations
---------------------

     The following table sets forth certain statement of operations data as a
percentage of total revenue for the periods indicated:


                                      14

<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS - (CONTINUED)

<TABLE>
<CAPTION>
                                                       Three Months Ended
                                                            March 31,
                                                       ------------------
                                                          2001      2000
                                                          ----      ----
<S>                                                      <C>       <C>
Revenue:
  License..............................................    62%       79%
  Service..............................................    38        21
                                                         ----      ----
    Total revenue......................................   100       100
                                                         ----      ----
Cost of revenue........................................    61        30
                                                         ----      ----
    Gross profit.......................................    39        70
                                                         ----      ----
Operating expenses:
  Sales and marketing..................................   127       118
  Research and development.............................    54        25
  General and administrative...........................    41        26
  Amortization of goodwill.............................     3         1
  Amortization of stock-based compensation.............     6         6
                                                         ----      ----
    Total operating expenses...........................   231        176
                                                         ----      ----
Operating loss.........................................  (192)     (106)
Interest income, net...................................     2         8
                                                         ----      ----
     Net loss..........................................  (190)%     (98)%
                                                         ====      ====
</TABLE>


Three Months Ended March 31, 2001 as Compared to Three Months Ended March 31,
2000

Revenue
-------

     The Company follows the revenue recognition principles described in
Statement of Position (SOP) 97-2, Software Revenue Recognition, as amended by
SOP 98-9.

     We license our products to end user customers, original equipment
manufacturers (OEM) and value added resellers (VAR).  Software license revenue
from sales to end users is generally recognized upon receipt of a signed
contract or purchase order and delivery of the software, provided the related
fee is fixed and determinable and collectibility of the fee is probable and
vendor-specific objective evidence for all undelivered elements has been
established. We have vendor-specific objective evidence of fair value for
consulting services and post-contract customer support based on the price
charged when these elements are sold separately.  Accordingly, license revenue
is recorded under the residual method described in SOP 98-9 for arrangements in
which licenses are sold with consulting services, post-contract customer
support or both.  However, the entire fee related to arrangements that require
us to deliver specified additional features or upgrades is deferred until
delivery of the feature and/or upgrade has occurred, unless we have has
sufficient vendor-specific objective evidence of fair value to allocate revenue
to the various elements in these arrangements.  Fees related to arrangements
that require us to deliver unspecified additional products are deferred and
recognized ratably over the term of the contract.  Revenue related to
arrangements involving consulting services that are essential to the
functionality of the software is deferred and recognized as the services are
performed.

     Software revenue related to arrangements to maintain the compatibility of
our software products with the software products or platforms of the customer
or other vendor is recognized ratably over the term of the arrangement.
License revenue from OEM arrangements in which we earn a royalty based on a
specified percentage of OEM sales to end users incorporating the Company's
software is recognized upon delivery to the end user.  Nonrefundable prepaid
royalty fees we receive from OEM customers are recognized when evidence
provides that all the conditions of SOP 97-2, as amended, have been satisfied.

     Service revenue consists of fees from professional services including
integration of software, application development, training and software
installation.  We bill professional service fees on a time and materials basis.
We recognize professional services fees as the services are performed.
Customers typically purchase post-contract customer agreements annually, which
are priced based on a fixed percentage of the product license fee.  We
recognize revenue allocated to post-contract customer support agreements
ratably over the term of the agreements, which are typically one year.


                                      15

<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS - (CONTINUED)


     Cost of license revenue includes royalties due to third parties for
integrated technology, the cost of manuals and product documentation,
production media used to deliver our products and shipping costs, including the
costs associated with the electronic transmission of software to new customers,
amortization of capitalized software development costs, and an allocation of
our facilities, communications and depreciation expenses. Cost of service
revenue includes salaries and related expenses for consulting services,
customer support, implementation and training services organizations, and costs
of contracting with third parties engaged to provide consulting services to
customers.

     Total Revenue. Total revenue decreased by 32% to approximately $3.6
     -------------
million for the three months ended March 31, 2001 from approximately $5.3
million for the three months ended March 31, 2000.  For the three months ended
March 31, 2001, license revenues and service revenues accounted for 62% and 38%
of total revenues, respectively.  The decreases in revenue were due to
decreased demand for our products.

     License Revenue. License revenue decreased by 46% to approximately $2.3
     ---------------
million for the three months ended March 31, 2001 from approximately $4.2
million for the three months ended March 31, 2000.  The decreases in license
revenue were due to the adverse economic conditions, which have reduced demand
for software products in general and impaired our revenue growth.

     Service Revenue. Service revenue increased by 21% to approximately $1.4
     ---------------
million for the three months ended March 31, 2001 from approximately $1.1
million for the three months ended March 31, 2000.  The increases in service
revenue primarily resulted from an increase in the number of maintenance
contracts over the same quarter in the prior year.

     Channel Mix. We distribute our products directly through a direct sales
     -----------
force and indirectly through Original Equipment Manufacturers ("OEMs"), Value
Added Resellers ("VARs") and systems integrators. Indirect channel revenues for
the three months ended March 31, 2001 and 2000 were 56% and 17% of total
revenues, respectively. Indirect channel revenues increased both as a
percentage of total revenues and in absolute dollars from each corresponding
previous year primarily because of the expanded use of channel partners and
their customer base. In general, the distribution of revenues among channels
will fluctuate in future periods depending on the timing of new product
releases, our ability to expand our use of OEMs and VARs, the timing of direct
sales to large customer accounts and customer buying patterns.

     Geographic Mix. International revenue (sales outside of the United States)
     --------------
for the three months ended March 31, 2001 and 2000 were 39% and 17% of total
revenue, respectively. International revenue for the three months ended March
31, 2001 increased in absolute dollars from the similar period in the prior
year because of increased distribution channels and customer base in
international market. See Note 7 of Notes to Condensed Consolidated Financial
Statements for further geographic information.

     We plan to continue to invest in international markets by direct
expansion, acquisition or partnering with OEMs, VARs and distributors
throughout the world. International revenues may fluctuate in future periods as
a result of competition, the general demand for Internet- and intranet-related
products in international markets, and general economic conditions of the
regions.


Gross Margin
------------

     The gross margin for the quarter ended March 2001 was 39% as compared to
70% in the quarter ended March 31, 2000. This decrease in gross margins was due
to reduced license revenue, which historically have generated for us higher
margins than service revenues.


Cost of revenue
---------------

     Our cost of revenue includes salaries and related expenses for our
customer maintenance and support, professional consulting and implementation
and training services organizations and costs of contracting with third parties
to provide consulting services to customers.  Our cost of revenue also includes
royalties due to third parties for integrated technology, the cost of manuals
and product documentation, production media used to deliver our products and
shipping costs, including the costs associated with the electronic transmission
of software to new customers and an allocation of our facilities, and
depreciation expenses.


                                      16

<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS - (CONTINUED)

     Cost of revenue increased by 37% to approximately $2.2 million for the
three months ended March 31, 2001 from approximately $1.6 million for the three
months ended March 31, 2000.  Cost of revenue increased to 61% of total revenue
for the three months ended March 31, 2001 from 30% for the three months ended
March 31, 2000.  The increase in cost of revenue resulted primarily from
increased software amortization and royalties.


Operating Expenses
------------------

     Our operating expenses are classified into five general categories: sales
and marketing, research and development, general and administrative,
amortization of stock-based compensation and amortization of goodwill. In
addition to five general categories, we have recorded special charges for
restructuring expense and impairment in fiscal 2000. We classify all charges to
these operating expense categories based on the nature of the expenditures.
Although each category includes expenses that are category specific, each
category includes expenses that may be common to the other categories, such as
salaries, employee benefits, bonuses, travel and entertainment costs, telephone
expenses, rent, facilities costs and third-party professional service fees. The
sales and marketing category of operating expenses includes expenditures
specific to the category, such as sales commissions, public relations and
advertising, trade shows, marketing collateral materials and web seminars. We
allocate the total costs for overhead and facilities to each of the functional
areas that use the overhead and facilities services based on their estimated
usage as measured primarily by employee headcount. These allocated charges
include facility rent and utilities for the corporate office and depreciation
expense for office furniture and equipment.

     Viador's total operating expenses for the three months ended March 31,
2001 and 2000 were $8.3 million and $9.3 million, or 231% and 176% of total
revenues, respectively. The decrease in operating expenses for the three months
ended March 31, 2001 compared to the corresponding earlier year in absolute
dollars resulted from our efforts to streamline our operations and reduce our
expenditure levels.  In furtherance of these objectives, on January 5, 2001, we
reduced our workforce in the United States by 87 positions, or 36% of our
workforce in the United States, and aggressively cut costs. On April 6, 2001,
we reduced our workforce in the United States further by 55 positions out of
the remaining 151 positions, or 37% of our workforce in the United States. It
is possible that we will have further cost reductions in the future. Operating
expenses increased as a percentage of total revenues during the three months
ended March 31, 2001 due to the decline in total revenues at a greater rate
than the reduction in expenses that we achieved.

     Sales and Marketing
     -------------------

     Sales and marketing expenses consist of operating expenses associated with
Viador's sales, marketing, international and other business development
efforts. Sales and marketing expenses for the three months ended March 31, 2001
and 2000 were $4.6 million and $6.3 million, or 127% and 118% total revenue,
respectively. Sales and marketing expenses decreased in absolute dollars for
the three months ended March 31, 2001 as compared to the similar period in 2000
primarily due to reduced salaries and related expenses resulting from decreased
staffing associated with an announced restructuring in January 2001. We believe
that sales and marketing expenses are likely to decline in absolute dollars in
the near term as a result of the cost containment procedures that we have
recently implemented in response to the decline in our earnings and general
macro-economic conditions.

     Research and Development
     ------------------------

     Research and development expenses consist of operating expenses associated
with software development. Had we not capitalized any software development
costs, research and development expense for the three months ended March 31,
2001 would have been 56% of total revenues. Research and development expense
increased by 49% to $1.9 million of total revenues without software
capitalization in 2001 as compared $1.3 million or 25% of total revenues for
the same period in 2000. The increases in research and development expenses
were principally due to reduced capitalization of development expense partially
offset by reduced salary-related expenses due to a restructuring in early
January 2001. We capitalized approximately $93,000 additional development costs
related to enhancing this product in the first quarter of 2001. Amortization of
capitalized software development costs is charged to cost of revenue and
totaled approximately $423,000 in the three months ended March 31, 2001.


                                      17

<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS - (CONTINUED)


     General and Administrative
     --------------------------

     General and administrative expenses for all years presented consist
primarily of compensation and fees for professional services. General and
administrative expenses for the three months ended March 31, 2001 and 2000 were
$1.5 million and $1.5 million or 41% and 27% of total revenues, respectively.
General and administrative expenses remained unchanged in absolute dollars from
2000 to 2001, primarily due to the cost control efforts that we implemented on
January 5, 2001. We believe that sales and marketing expenses are likely to
decline in absolute dollars in the near term as a result of the cost
containment procedures that we have recently implemented in response to the
decline in our earnings and general macro-economic conditions.

     Amortization of Goodwill
     ------------------------

     Amortization of goodwill was attributable to the acquisition of a
distributor in Switzerland in January 2000 and is based on a straight-line
method over the expected period to be benefited, which is five years.
Amortization of goodwill for the three months ended March 31, 2001 was
$107,000, or 3%, of total revenue. There was $67,000 amortization of goodwill
for the three months ended March 31, 2000. At December 31, 2000, the Company
performed an evaluation of goodwill to determine whether recoverable. The
evaluation was based on current year activities and project cash flows as
compared to the carrying value of goodwill. Our evaluation related to our
Switzerland-based subsidiary currently indicates that the March 31, 2001
balance of $1.6 million is recoverable. However, if the operating results for
2001 do not meet our current expectations, we may record an impairment charge
for some portion or all of the remaining unamortized balance.

     Amortization of Stock-based Compensation
     ----------------------------------------

     Amortization of stock-based compensation primarily consists of charges
incurred for employee stock options issued with exercise prices less than the
fair market value of our stock at the date of grant. Amortization of stock-
based compensation for the three months ended March 31, 2001 and 2000 was
$204,000 and $334,000 or 5% and 6% of total revenues, respectively.

     Restructuring Expense and Impairment Loss
     -----------------------------------------

     In December 2000, we implemented a Board-approved restructuring program to
streamline the Company's business and to reduce costs, which resulted in a
restructuring charge of $693,000. This restructuring charge included $234,000
for severance charges associated with the reduction in work force (87 positions
or 36% of the work force) and $459,000 related to estimated losses resulting
from obligations to pay rent on pre-existing space that is currently vacant.
This accrual was based on an assumption that the space will remain vacant for
three months. Our actual cost for rental of this vacant space may increase if
we are unable to find a suitable lessee by May 31, 2001. In connection with the
restructuring, the Company also recorded charges totaling $1,270,000 for write-
downs of leasehold improvements and other assets. These assets were
specifically identified in the restructuring program. As of March 31, 2000,
$365,000 remains accrued and is expected to be paid by the end of the second
quarter of fiscal 2001. It is possible that we will have further cost
reductions in the future and thereby incur additional expense.


Interest Income, Net
--------------------

     Interest income, net, decreased to approximately $86,000 for the three
months ended March 31, 2001 from approximately $435,000 for the three months
ended March 31,2000.  This decrease was due to a reduction in interest-bearing
cash and investment balances.


Provisions of Income Taxes
--------------------------

     Since the Company has incurred losses for each reporting period for both
tax and financial reporting purposes, no income tax provision has been recorded
for the three months periods ended March 31, 2001 and 2000.


                                      18

<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS - (CONTINUED)

Net Loss
--------

     For the three months ended March 31, 2001 and 2000, net loss was $6.8
million, $5.2 million, respectively or 190% and 98% of total revenues.



Liquidity and Capital Resources
-------------------------------

     From our inception, we have financed our operations primarily through an
initial public offering in which we raised money and private equity placements
totaling approximately $63.8 million.  As of March 31, 2001, we had an
accumulated deficit of approximately $59.2 million and cash, cash equivalents
of approximately $1.0 million. For the three months ended March 31, 2001, we
had a net loss of $6.8 million. For the years ended December 31, 2000, 1999 and
1998, we had net losses of approximately $29.3 million, $13.3 million and $6.2
million, respectively.  The size of our accumulated deficit, our losses since
inception and our ongoing need for capital to continue our operations raises
substantial doubt as to our ability to continue operations during the year
2001. We will need to obtain additional financing to finance continuing
operating losses.  There can be no assurance that we will be successful in our
efforts to reduce expenses or to obtain additional financing.  Failure to
reduce expenses and/or to obtain additional financing will result in a material
adverse effect on our ability to meet our business objectives and continue as a
going concern. Absent debt or equity financing, and excluding significant
expenditures required for our major projects, we currently anticipate that the
cash on hand and anticipated cash flow from operations will only be adequate to
fund our operations in the ordinary course of business until late in the second
quarter of 2001. See Note 1 to the Condensed Consolidated Financial Statements.

     Net cash used in operating activities for the three months ended March 31,
2001 and 2000 was approximately $8.5 million and $4.1 million, respectively.
The net use of cash for the three months ended March 31, 2001 resulted
primarily from our net loss and a $1.8 million decrease in accounts payable and
accrued liabilities.  Net cash used in investing activities for the three
months ended March 31, 2001 and 2000 was approximately $0.5 million and $39
million. Net cash used in financing activities for the three months ended March
31, 2001 was approximately $6 million and resulted primarily from the repayment
of note payable and $436,000 in capital expenditures.

     Deferred revenue primarily consists of the unrecognized portion of license
and service revenues received pursuant to subscription and support contracts,
consulting and prepaid license royalties.  Deferred revenue was approximately
$4.0 million as of March 31, 2001 and $5.0 million as of March 31, 2000.

     Viador's principal commitments as of March 31, 2001 consisted of
obligations under noncancelable operating leases for monthly rent.  We have no
present commitments or arrangements assuring us of any future equity or debt
financing, and we cannot assure you that any such equity or debt financing will
be available to us on favorable terms, or at all.

     Our services consist of maintenance, support, consulting and
implementation.  Service revenue represented 38% and 21% of total revenue for
the three months ended March 31, 2001 and 2000, respectively.  We anticipate
that service revenue will continue to represent a significant percentage of
total revenue.

     We believe our cash reserves are insufficient to fund our ongoing
operations through fiscal 2001 and do not expect cash flows from operations to
be sufficient in the next twelve months.  Although efforts are underway to
secure financing to enable us to meet our obligations, execution of our
business plan will require additional capital to fund.  There is currently no
agreement in place with any source of financing, and there can be no assurance
that we will be able to raise additional funds or that such funds will be
available on acceptable terms.  Funds raised through future equity financing
will likely be substantially dilutive to our current shareholders.  Lack of
additional funds will materially affect us and our business and may cause us to
cease operations.  Consequently, shareholders could incur a loss of their
entire investment in Viador.

     Customer orders during a particular quarter typically vary considerably in
size, from as low as several thousand dollars to over $500,000.  Two customers
accounted for more than 10% of quarterly recognized revenue for the quarter
ended March 31, 2001.  Because of the large size of some individual customer
orders relative to total orders during a quarter, our revenue may fluctuate
significantly from one quarter to the next.  If a customer who places a large
order cancels or reduces the order, or if we are unable to fulfill the order in
a timely fashion or are otherwise unable to recognize revenue for the order in
the quarter in which it is anticipated, it could result in increased volatility
in our revenue and stock price.


                                      19

<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS - (CONTINUED)


     Our liquidity and capital requirements depend on numerous factors
discussed under the section entitled "Risk Factors" beginning on page 20.
Factors such as the ability to obtain additional financing to continue
operations, expand our customer base, the level of investment in our business,
the level of expenditures for marketing and sales, the level of investment in
distribution, customer service and other capabilities would also increase our
liquidity requirements.  The timing and amount of these capital requirements
cannot be accurately predicted.

     Our financial statements were prepared on the assumption that we will
continue as a going concern.  The report of our independent accountants
acknowledges that we have incurred losses in each of the last three fiscal
years and that we will require additional funding to sustain our operations.
These conditions cause substantial doubt as to our ability to continue as a
going concern.  Our financial statements included herein do not include any
adjustments that might result should we be unable to continue as a going
concern.

     If we raise additional funds by issuing equity or convertible debt
securities, the percentage ownership of our stockholders will be diluted.
Furthermore, any new securities could have rights, preferences and privileges
senior to those of our common stock.  There is currently no agreement in place
with any source of financing, and there can be no assurance that we will be
able to raise additional funds or that such funds will be available on
acceptable terms or at all.  Lack of additional funds will materially adversely
affect us and our business and may cause us to sell assets or to cease
operations.  Consequently, our stockholders could incur a loss of their entire
investment in us.


                RISK FACTORS THAT MAY AFFECT FUTURE RESULTS
                          Risks Related to Viador

We cannot predict whether we will be successful because we have a short
-----------------------------------------------------------------------
operating and sales history.
---------------------------

     We were founded in 1995, and began offering software products in the third
quarter of 1996. Our primary product, the Viador E-Portal, was first shipped in
the first quarter of 1999. We introduced Viador Portlets in the second quarter
of 2000 and Viador E-Portal Express in the fourth quarter of 2000.

     We have made significant investments in our sales and marketing programs,
personnel recruitment, product development and infrastructure and have
experienced significant losses on a quarterly and annual basis in the past. You
must consider us and our prospects in light of the risks and difficulties
encountered by companies in the early stage of development, particularly
companies in new and rapidly evolving markets. The revenue and income potential
of our business and market is unproven, and our limited operating history makes
it difficult to evaluate us and our prospects.

     Our ability to address these risks depends on a number of factors, which
include our ability to:

     o provide software that is reliable, cost-effective and able to
       accommodate significant increases in the number of users and amount of
       information;

     o market the Viador E-Portal, our other products and the Viador brand name
       effectively;

     o continue to grow our infrastructure to accommodate new developments in
       the enterprise information portal software market and increased sales;

     o retain and motivate qualified personnel; and

     o respond to competition.

     We may not be successful in meeting these challenges and addressing these
risks and uncertainties. If we are unable to do so, our business will not be
successful and your investment in our capital stock will decline in value.


                                      20

<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS - (CONTINUED)


We may not be able to grow our business or continue operating if we cannot
--------------------------------------------------------------------------
raise additional financing.
--------------------------

     Our independent certified public accountants have included an explanatory
paragraph in their audit report with respect to our financial statements
related to a substantial doubt with respect to our ability to continue as a
going concern.  Absent outside debt or equity financing, and excluding
significant expenditures required for our major projects, we currently
anticipate that cash on hand and anticipated cash flow from operations may be
adequate to fund our operations in the ordinary course until late in the second
quarter of 2001.  Any significant increase in planned capital expenditures or
other costs or any decrease in or elimination of anticipated sources of revenue
could cause us to restrict our business and product development efforts or to
deplete our available cash at an earlier date.  We need to find additional
funding to finance our operations.  Funding alternatives may not be available
to us within the necessary timeframe, on favorable terms or at all.  If we do
not realize significant additional revenue or raise additional debt or equity
financing, we will be unable to execute our business development efforts, and
we may be unable to continue as a going concern or we may have to sell assets.
The factors leading to and the existence of the explanatory paragraph in the
audit report will have a material adverse effect on our ability to obtain
additional financing.

Failure to raise additional capital will have a material adverse effect on our
------------------------------------------------------------------------------
ability to operate as a going concern.
-------------------------------------

     We will require additional financing to fund the continuation and growth
of our operations, including funding for capital expenditures and working
capital requirements. We believe we have insufficient capital to fund our
operations through fiscal 2001. We are considering financing our current
capital needs through the sale of additional equity. However, the significant
contraction in the capital markets, particularly in the technology sector,
combined with our early stage of commercial operations might make it difficult
to raise additional capital. If the Company does not obtain additional cash
funding, the carrying amounts of certain assets, including property, equipment,
goodwill and capitalized software development costs may not be recovered.

     Future equity or debt financing may not be available to us on favorable
terms or at all.  Future borrowing instruments such as credit facilities and
lease agreements are also likely to contain restrictive covenants and will
likely require us to pledge assets as security for borrowings under those
future arrangements.  Failure to raise sufficient additional capital would have
a material adverse effect on our ability to operate as a going concern or to
achieve our business objectives. See "Management's Discussion and Analysis of
Financial Condition and Results of Operations - Liquidity and Capital
Resources" on page [19].

Our cost-cutting efforts may harm our business.
----------------------------------------------

     Our management is implementing plans designed to reduce our cash
requirements through a combination of reductions in components of working
capital, equipment purchases and operating expenditures, including a
significant reduction in force.  However, there can be no assurance that we
will be able to successfully implement these plans or that we will be able to
do so without a material adverse effect on our business, financial condition or
results of operations.

As a result of questions concerning our status as a going concern, our
----------------------------------------------------------------------
customers and vendors may decide not to do business with us.
-----------------------------------------------------------

     Due to concerns regarding our ability to continue operations, customers
and vendors may decide not to conduct business with us, or may conduct business
with us on terms that are less favorable than those customarily extended by
them.  Additionally, we are currently experiencing some resistance in the
marketplace and we believe that one of the several factors for this resistance
is related to concerns regarding our ability to continue or business as a going
concern.  In any event, if customers and vendors decide not to conduct business
with us, our net sales would further decrease, and our business will suffer
significantly.

Our business currently depends on revenue related to the Viador E-Portal, and
-----------------------------------------------------------------------------
it is uncertain whether the market will increasingly accept this product.
------------------------------------------------------------------------

     We generate most of our revenue from licenses and services related to the
products comprising the Viador E-Portal. We expect that these products, and
future upgraded versions of these products, will continue to account for a
large portion of our revenue for the foreseeable future. Our future financial
performance will depend on increasing acceptance of our current products and on
the successful development, introduction and customer acceptance of new and
enhanced versions of our products. Our business could be harmed if we fail to
deliver the enhancements to our products that customers want.


                                      21

<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS - (CONTINUED)

     The market for enterprise information portal software is still in its
infancy as an emerging technology and there can be no assurance that customers
will adopt our products. Accordingly, we cannot accurately estimate the
potential demand for our products and services. We believe that market
acceptance of our products and services depends principally on our ability to:

     o effectively market the Viador E-Portal, our other products and our
       services;

     o hire, train and retain a sufficient number of qualified sales and
       marketing personnel;

     o provide high-quality and reliable customer support for our products;

     o distribute and price our products and services in a manner that is more
       appealing to customers than that of our competitors;

     o develop for Viador a favorable reputation among our customers, potential
       customers and participants in the software industry; and

     o withstand downturns in general economic conditions or conditions that
       would slow corporate spending on software products.

     Some of the foregoing factors are beyond our control. If our customer base
does not expand, we may never become profitable and our stock price will likely
decline.

     Our services consist of maintenance, support, consulting and training.
Service revenue represented 29%, 28% and 40% of total revenue for 2000, 1999
and 1998, respectively. We anticipate that service revenue will decrease as a
percentage of total revenue. If service revenue is less than anticipated, our
fixed costs of providing services will exceed our service revenue and our
operating results could be materially adversely affected.

Continuing uncertainty of the U.S. economy may have serious implications for
----------------------------------------------------------------------------
the growth and stability of our business and may negatively affect our stock
----------------------------------------------------------------------------
price.
-----

     The revenue growth and profitability of our business depends significantly
on the overall demand for software products, particularly in the product
segments in which we compete. Softening demand for these products caused by
ongoing economic uncertainty may result in decreased revenues or earnings
levels or growth rates. The U.S. economy has weakened and market conditions
continue to be challenging. This weakening has resulted in individuals and
companies delaying or reducing expenditures, such as for increasing their use
of Internet services.  Further delays or reductions in Internet services
expansion spending could have a material adverse effect on demand for our
services, and consequently on our business, operating results, financial
condition, prospects and stock price.

We have a history of losses and may not be able to achieve profitability in the
-------------------------------------------------------------------------------
future.
------

     Since our inception, we have experienced recurring operating losses,
negative cash flows from operations and net losses in each quarterly and annual
period. As of December 31, 2000, we had an accumulated net deficit of
approximately $52.3 million. Revenue from our software and related services may
not be sufficient to make us profitable in the future. If we do achieve
profitability, we cannot be certain that we can sustain or increase
profitability on a quarterly or annual basis, particularly to the extent that
we face significant competition.
If we do not expand our customer base, we may never become profitable and our
stock price will likely decline.
     The market for enterprise information portal software is newly emerging
and there can be no assurance that customers will adopt our products.
Accordingly, we cannot accurately estimate the potential demand for our
products and services. We believe that market acceptance of our products and
services principally depends on our ability to:

     o effectively market the Viador E-Portal, our other products and our
       services;

     o hire, train and retain a sufficient number of qualified sales and
       marketing personnel;

     o provide high-quality and reliable customer support for our products;


                                      22

<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS - (CONTINUED)


     o distribute and price our products and services in a manner that is more
       appealing to customers than that of our competitors;

     o develop a favorable reputation for Viador among our customers, potential
       customers and participants in the software industry; and

     o withstand downturns in general economic conditions or conditions that
       would slow corporate spending on software products.

     Some of the foregoing factors are beyond our control. If our customer base
does not expand, we may never become profitable and our stock price will likely
decline.

We have received notification from Nasdaq that our common stock is not in
-------------------------------------------------------------------------
compliance with minimum bid price listing requirements and risk being de-listed
-------------------------------------------------------------------------------
from the Nasdaq National Market.
-------------------------------

     On April 2, 2001, we received notification from Nasdaq that Viador is not
in compliance with minimum bid price listing requirements for trading on the
Nasdaq National Market.  Our common stock has failed to maintain a minimum bid
price $1.00 for over 30 consecutive trading days as required to continue
trading on the Nasdaq National Market.  We have until July 2, 2001 to regain
compliance.  If at any time before July 2, 2001, the bid price of our common
stock is at least $1.00 for a minimum 10 consecutive trading days, Nasdaq will
determine if we are in compliance.  If we are unable to demonstrate compliance
on or before July 2, 2001, Nasdaq will notify us in writing that Nasdaq has
determined to de-list our common stock.  At that time, we may request a review
of Nasdaq's determination, but Nasdaq may de-list our common stock even after
review.  The potential de-listing of the Company's common stock from the Nasdaq
National Market may adversely affect the trading liquidity and the price of the
Company's common stock, as well as our ability to obtain additional financing.

Our operating results in one or more future periods may fluctuate significantly
-------------------------------------------------------------------------------
and may fail to meet or exceed the expectations of securities analysts or
-------------------------------------------------------------------------
investors, causing our stock price to fall.
------------------------------------------

     We may experience significant fluctuations in our future results of
operations due to a variety of factors, many of which are outside of our
control, including:

     o demand for and market acceptance of our products and services;

     o our expansion into international markets;

     o introduction of products and services or enhancements by us and our
       competitors;

     o competitive factors that affect our pricing;

     o the mix of products and services we sell;

     o the timing and magnitude of our capital expenditures, including costs
       relating to the expansion of our operations;

     o the size and timing of customer orders, particularly large orders, some
       of which represent more than 10% of total revenue during a particular
       quarter;

     o the hiring and retention of key personnel;

     o conditions specific to the enterprise information portal market and
       other general economic factors;

     o changes in generally accepted accounting policies, especially those
       related to the recognition of software revenue; and

     o new government legislation or regulation.

     We typically receive 50% to 70% of our orders in the last month of each
fiscal quarter because our customers often delay purchases of products until
the end of the quarter and our sales organization and our individual sales
representatives strive to meet quarterly sales targets. Because a substantial
portion of our costs are relatively fixed and based on anticipated revenue, a
failure to book an expected order in a given quarter will likely not be offset
by a corresponding reduction in costs and, therefore, could adversely affect
our operating results for that quarter. Due to these factors, we believe that
period-to-period comparisons of our operating results are not necessarily
meaningful and cannot be relied upon as indicators of future performance. In
future

                                      23

<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS - (CONTINUED)

periods, our operating results may be below the expectations of public market
analysts and investors. In this event, the price of our common stock may fall
significantly.

Because our customers' orders vary substantially in size, our quarterly
-----------------------------------------------------------------------
operating results are difficult to forecast and may fluctuate.
-------------------------------------------------------------

     Customer orders during a particular quarter typically vary considerably in
size, from as low as several thousand dollars to over one million dollars.
Because of the large size of some individual customer orders relative to total
orders during a quarter, our revenue may fluctuate significantly from one
quarter to the next. If a customer who places a large order cancels or reduces
the order, or if we are unable to fulfill the order in a timely fashion or are
otherwise unable to recognize revenue for the order in the quarter in which it
is anticipated, it could result in increased volatility in our revenue and
stock price.


Since our sales cycle is long, unpredictable and subject to seasonal
--------------------------------------------------------------------
fluctuations, it is difficult to accurately forecast our revenue; if we fail to
-------------------------------------------------------------------------------
achieve our forecasted revenue, our operating results will suffer and our stock
-------------------------------------------------------------------------------
price may decline.
-----------------

     The typical sales cycle of our products is long and unpredictable and
requires both a significant capital investment decision by our customers and
our education of potential customers regarding the use and benefits of our
products. Our sales cycle is generally between three and nine months. A
successful sales cycle typically includes presentations to both business and
technical decision makers. The implementation of our products involves a
significant commitment of resources by prospective customers. Accordingly, a
purchase decision for a potential customer typically requires the approval of
several senior decision makers. Our sales cycle is also affected by the
business conditions of each prospective customer. Due to the relative
importance of many of our individual product sales, a lost or delayed sale
could adversely affect our quarterly operating results. Our sales cycle is also
affected by seasonal fluctuations as a result of our customers' fiscal year
budgeting cycles and slow summer purchasing patterns overseas. Also, we expect
revenue to be higher in the fourth quarter than in other quarters of the year
since many customers strive to spend unused budgeted dollars before the end of
the year.

If our software contains errors, we may lose customers or experience reduced
----------------------------------------------------------------------------
market acceptance of our products.
---------------------------------

     Our software products are inherently complex and may contain defects and
errors that are detected only when the products are in use. In addition, some
of our customers require or may require enhanced customization of our software
for their specific needs, and these modifications may increase the likelihood
of undetected defects or errors. Further, we often render implementation,
consulting and other technical services, the performance of which typically
involves working with sophisticated software, computing and networking systems,
and we could fail to meet customer expectations as a result of any defects or
errors. As a result, we may lose customers, customers may fail to implement our
products more broadly within their organization and we may experience reduced
market acceptance of our products. Our products are designed to facilitate the
secure transmission of sensitive business information to specified parties
outside the business over the Internet. As a result, the reputation of our
software products for providing good security is vital to their acceptance by
customers. Our products may be vulnerable to break-ins, theft or other improper
activity that could jeopardize the security of information for which we are
responsible. Problems caused by product defects, failure to meet project
milestones for services or security breaches could result in loss of or delay
in revenue, loss of market share, failure to achieve market acceptance,
diversion of research and development resources, harm to our reputation,
increased insurance costs or increased service and warranty costs. To address
these problems, we may need to expend significant capital resources that may
not have been budgeted.

Product liability claims could harm our business.
------------------------------------------------

     Our license agreements with customers typically contain provisions
designed to limit our exposure to potential product liability claims. All
domestic and international jurisdictions may not enforce these limitations.
Although we have not experienced any product liability claims to date, we may
encounter this type of claim in the future. Product liability claims brought
against us, whether or not successful, could divert the attention of our
management and key personnel and could be expensive to defend.


                                      24

<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS - (CONTINUED)

We may be unable to maintain or grow our international operations, which could
------------------------------------------------------------------------------
slow or undermine our overall growth.
------------------------------------

     During the three months ended March 31, 2001 and 2000, we derived 39% and
17%, respectively, of our total revenue from sales outside the United States.
During the three months ended March 31, 2001 and 2000, we derived our
international revenue primarily from sales in Canada, Europe and Asia Pacific.
We intend to expand our international operations and anticipate that in the
foreseeable future a significant portion of our revenue may be derived from
sources outside the United States. If we are unable to maintain or grow our
international operations, it could slow or undermine our overall growth.

     We have not identified any material risk associated with doing business in
Canada, other than risk associated with foreign currency fluctuations. In
Japan, we have an exclusive distribution relationship with Mitsui. We are
currently working on renewing the terms of distributorship.  To the extent we
are unable to favorably renew our distribution agreement or make alternative
arrangements, we may have decreased revenue in Japan. We also face country-
specific risks in Europe and Asia pacific region (the region), such as
fluctuation in currency, general economic conditions in the region and
regulatory uncertainties associated with being a foreign company doing business
in the region.

     We also have committed additional resources to customizing our products
for selected international markets, including German, French and Spanish-
speaking markets, among others, and in developing international sales and
support organizations. In addition, even if we successfully expand our
international operations and successfully customize our products, there can be
no assurance that we will be able to maintain or increase international market
demand for our products.

     Our international operations are subject to a number of risks, including:

     o costs of customizing our products for foreign countries;

     o protectionist laws and business practices favoring local competition;

     o dependence on the performance of local resellers and other strategic
       partners;

     o adoption of general Internet technologies in each international market;

     o compliance with multiple, conflicting and changing governmental laws and
       regulations;

     o longer sales and payment cycles;

     o import and export restrictions and tariffs;

     o difficulties in staffing and managing international operations;

     o greater difficulty or delay in accounts receivable collection;

     o foreign currency exchange rate fluctuations;

     o multiple and conflicting tax laws and regulations; and

     o political and economic instability.

If our plan to sell the Viador E-Portal directly to customers is not
--------------------------------------------------------------------
successful, we may not be able to grow our revenue and our stock price may
--------------------------------------------------------------------------
suffer.
------

     We sell our products primarily through our domestic direct sales
organization and we support our customers with our technical and customer
support staff in several field offices. Our ability to achieve revenue growth
in the future will depend on our ability to recruit and train sufficient
technical, customer and direct sales personnel. We have in the past and may in
the future experience difficulty in recruiting qualified sales, technical and
support personnel. Our inability to rapidly and effectively expand our direct
sales force and our technical and support staff could reduce or eliminate our
growth and cause our stock price to fall.


                                      25

<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS - (CONTINUED)

Our failure to manage our growth could adversely affect our business.
--------------------------------------------------------------------

     The continued expansion of our operations will place a strain on our
management, financial controls, operations systems, personnel and other
resources. Our ability to manage our future growth, should it occur, will
depend in large part upon a number of factors including our ability to rapidly:

     o build and train our sales and marketing staff to create an expanding
       presence in the evolving enterprise information portal market, and keep
       them fully informed over time regarding the technical features, issues
       and key selling points of our products;

     o develop our customer support capacity as sales of our products grow, so
       that we can provide customer support without diverting engineering
       resources from product development efforts; and

     o expand our internal management so that we can maintain control over our
       operations and provide support to other functional areas within Viador
       as the number of our personnel and size of our organization increases.

     Our inability to achieve any of these objectives could adversely affect
our business.


We depend on technology licensed from third parties and, if we do not maintain
------------------------------------------------------------------------------
those license arrangements, this could result in delays in shipping our
-----------------------------------------------------------------------
products and services, which could harm our business.
----------------------------------------------------

     We license our search engine technology, which is integrated into the
Viador E-Portal, from Inktomi. This technology provides users of our products
with the ability to search and classify information. We also license JRUN, a
Java servlet engine from Macromedia, which is necessary for users to access the
Viador E-Portal.  This software may not continue to be available on
commercially reasonable terms, or at all. Our loss of or inability to maintain
either of these technology licenses could result in delays in the sale of our
products and services until equivalent technology, if available, is identified,
licensed and integrated, which could harm our business.

If we do not manage the recent reduction in our workforce, it could have a
--------------------------------------------------------------------------
material adverse effect on our business.
---------------------------------------

     On January 5, 2001, we reduced our workforce in the United States by 87
positions, or 36% of our workforce in the United States, and aggressively cut
costs. On April 6, 2001, we further reduced our workforce by 55 people, or 37%
of our workforce. It is possible that we will have additional reductions in our
workforce.  Any failure to manage the impact of the workforce reduction on our
product development schedules, our ability to retain remaining personnel, or
our ability to recruit new employees in the future could have a material
adverse effect on our business, operating results and financial condition.
If we are unable to motivate and retain our personnel, it could have a
material, adverse effect on our business.

     Our success depends in large part on our ability to motivate and retain
highly skilled employees on a timely basis.  Our workforce reduction in
December 2000 and any future workforce reduction could result in some
disruption in our ongoing operations and harm our efforts to motivate existing
employees.  Our failure to retain highly skilled personnel may limit the rate
at which we generate revenue and develop new products or product enhancements.
This could have a material adverse effect on our business, operating results
and financial condition.

We have appointed a new interim chief executive officer, a new president and a
------------------------------------------------------------------------------
new chief financial officer, and the integration of these officers may
----------------------------------------------------------------------
interfere with our operations.
-----------------------------

     In October 2000, we announced the appointment of Jonathan Harding as our
new president and chief executive officer. In January 2001, we announced Alice
Pilch as our new chief financial officer.  On May 1, 2001, we announced the
appointment of Dick Warmington as interim chief executive officer and president
of the Company, to replace Jonathan Harding.  The transitions of Mr. Warmington
and Ms. Pilch have resulted and will continue to result in disruption to our
ongoing operations, and these transitions, as well as a transition to a
permanent chief executive officer, may materially harm the way that the market
perceives our company and the price of our common stock.

Loss of any of our executive officers could harm our business
-------------------------------------------------------------

     Our future success depends to a significant degree on the skills,
experience and efforts of our senior management. In particular, we depend upon
the continued services of Ms. Pilch.  The loss of the services of Ms. Pilch or
any of our

                                      26

<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS - (CONTINUED)

executive officers could harm our business and operations. In addition, we have
not obtained life insurance benefiting us on any of our employees or entered
into employment agreements with our key employees. If any of our key employees
left or was seriously injured and unable to work and we were unable to find a
qualified replacement, our business could be harmed.

If we do not successfully recruit and retain skilled personnel for permanent
----------------------------------------------------------------------------
management positions, we may not be able to effectively implement our business
------------------------------------------------------------------------------
objectives.
----------

     We have experienced significant personnel changes at the senior management
level.  In October 2000, our president and chief executive officer and our
chief financial officer resigned.  We appointed Jonathan Harding president and
chief executive officer in October 2000 and Alice Pilch chief financial officer
in January 2001.  In May 2001, Jonathan Harding resigned as president and chief
executive officer and Steven Dille recently resigned as vice president of
worldwide marketing and sales.  We have appointed Dick Warmington as interim
president and chief executive officer and Donald A. Cochrane as vice president
of worldwide marketing and sales.  We cannot predict how these changes in
management will affect our business. However, if we fail to recruit and retain
qualified individuals to permanently serve in these senior management
positions, our business, financial condition and results of operations will be
seriously harmed.

We may not be able to recruit and retain personnel, which would impair our
--------------------------------------------------------------------------
growth.
------

     We are highly dependent on certain members of our management and
engineering staff, including, without limitation, our chief executive officer,
our chief technology officer, our senior vice president of worldwide sales and
marketing, and our chief financial officer. The loss of one or more of these
officers might impede the achievement of our business objectives. furthermore,
recruiting and retaining qualified financial and technical personnel is
critical to our success. If our business grows, we will also need to recruit a
significant number of management, technical and other personnel for our
business. Competition for employees in our industry is intense. We may not be
able to continue to attract and retain skilled and experienced personnel on
acceptable terms.

If we are unable to effectively protect our proprietary rights, our competitors
-------------------------------------------------------------------------------
may be able to copy important aspects of our products or product presentation,
------------------------------------------------------------------------------
which would undermine the relative appeal of our products to customers and
---------------------------------------------------------------------------
reduce our sales.
----------------

     We believe that proprietary rights are important to our business. We
principally rely upon a combination of patent, copyright, trademark and trade
secret laws as well as contractual restrictions to protect our proprietary
technology. We have filed applications seeking U.S. patents on two inventions.
However, patents for these inventions may not issue and it is possible that
these and any other patents issued to us may be circumvented by our competitors
or otherwise may not provide significant proprietary protection or commercial
advantage to us. Similarly, our trademark, service mark and copyright rights
may not provide significant proprietary protection or commercial advantage to
us, and the measures we take to maintain the confidentiality of our trade
secrets may be ineffective. If we are unable to effectively protect our
proprietary rights, our competitors may be able to copy important aspects of
our products or product message, which would undermine the relative appeal of
our products to customers and thus reduce our sales.

If our products infringe upon the proprietary rights of others, we may be
-------------------------------------------------------------------------
forced to pay high prices to license new technology or stop selling our
-----------------------------------------------------------------------
products.
--------

     Our commercial success will also depend in part on our not infringing the
proprietary rights of others and not breaching technology licenses that cover
technology used in our products. It is uncertain whether any third-party
proprietary rights will require us to develop alternative technology or to
alter our products or processes, obtain licenses or cease certain activities.
If any licenses of that type are required, we may not be able to obtain those
licenses on commercially favorable terms, if at all. Our failure to obtain a
license to any technology that we may require to commercialize our products and
services could cause our business and prospects to suffer. Litigation, which
could result in substantial cost to us, may also be necessary to enforce any
patents issued or licensed to us or to determine the scope and validity of
third-party proprietary rights.


                                      27

<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS - (CONTINUED)

                       Risks Related To Our Industry

The markets in which we compete are highly competitive, and we may not be able
------------------------------------------------------------------------------
to compete effectively.
----------------------

     The market for our products is intensely competitive, subject to rapid
change and significantly affected by new product introductions and other market
activities of industry participants.  Our primary source of direct competition
comes from independent software vendors of corporate portal software.  We also
compete with business intelligence software vendors, large application software
vendors, and application server vendors providing a portal add-on.  Business
intelligence software is installed on a personal computer and permits the
analysis of information in databases.  We also face indirect competition from
potential customers' internal development efforts.  We cannot assure that we
will be able to successfully compete against current and future competitors, or
that competitive pressures we face will not materially adversely affect our
business, prospects, operating results and financial condition.


If we fail to manage technological change or effectively respond to changes in
------------------------------------------------------------------------------
customer needs, demand for our products and services will drop and our business
-------------------------------------------------------------------------------
will suffer.
------------

     The market for enterprise information portals is still in an early stage
of development and is characterized by rapidly changing technology, evolving
industry standards, frequent new service and product introductions and changes
in customer demands. Our future success will depend to a substantial degree on
our ability to offer products and services that incorporate leading technology
and respond to technological advances and emerging industry standards and
practices on a timely and cost-effective basis. You should be aware that:

     o our technology or systems may become obsolete upon the introduction of
       alternative technologies;

     o the technological life cycles of our products are difficult to estimate;

     o we may not have sufficient resources to develop or acquire new
       technologies or to introduce new services capable of competing with
       future technologies or service offerings; and

     o the price of the products and services we provide may decline as rapidly
       as, or more rapidly than, the cost of any competitive alternatives.

     We may not be able to effectively respond to the technological
requirements of the changing market for enterprise information portals. To the
extent we determine that new technologies and equipment are required to remain
competitive, the development, acquisition and implementation of those
technologies and equipment are likely to continue to require significant
capital investment by us. We may not have sufficient capital for this purpose
in the future, and even if it is available, investments in new technologies may
not result in commercially viable technological processes and there may not be
commercial applications for those technologies. If we do not develop and
introduce new products and services and achieve market acceptance in a timely
manner, demand for our products and services will drop and our business will
suffer.

Our business and prospects will suffer if we are unable to adequately respond
-----------------------------------------------------------------------------
to customer demands.
-------------------

     We expect that our customers increasingly will demand additional
information and reports with respect to the services we provide. To meet these
demands, we must develop and implement an automated customer service system to
enable future sales growth. In addition, if we are successful in implementing
our marketing strategy, we also expect the demands on our technical support
resources to grow rapidly, and we may experience difficulties in responding to
customer demand for our services and providing technical support in accordance
with our customers' expectations. We expect that these demands will require not
only the addition of new management personnel, but also the development of
additional expertise by existing management personnel and the establishment of
long-term relationships with third-party service vendors. We may not be able to
keep pace with any growth, successfully implement and maintain our operational
and financial systems or successfully obtain, integrate and utilize the
employees, facilities, third-party vendors and equipment, or management,
operational and financial resources necessary to manage a developing and
expanding business in our evolving and increasingly competitive industry. If we
are unable to address these customer demands, our business and prospects will
suffer.

                                      28

<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS - (CONTINUED)

Our future success will depend upon the ability of our products to work with a
------------------------------------------------------------------------------
large variety of hardware, software, database and networking systems.
--------------------------------------------------------------------

     We currently serve, and intend to continue to serve, a customer base with
a wide variety of hardware, software, database and networking systems. To gain
broad market acceptance, we believe that we must support an increased number of
systems in the future. We currently develop our products on Microsoft Windows
NT and Solaris.  Therefore, we experience a delay when we adapt our products to
be installed on other major servers. A delay in any rollout of our product onto
a new system could adversely affect our revenues and operating results. There
can be no assurance that we will adequately expand our data source and system
coverage to service potential customers, or that the expansion will be
sufficiently rapid to meet or exceed the system and data source coverage of our
competitors. The success of our products will depend on various factors,
including the ability of our products to integrate and be compatible with
customer systems, particularly hardware systems, operating systems and data
sources, as well as or better than competitive offerings. The success of our
products will also depend on the ability of our existing products to work well
with one another, with new products we are developing and with new software
being developed by third parties. We cannot assure you that we will
successfully develop and market product enhancements or new products that
respond to these technological changes, shifting customer tastes or evolving
industry standards, or that we will not experience difficulties that could
delay or prevent the successful development, introduction and marketing of
these products. If we are unable to develop and introduce new products or
enhancements of existing products in a timely manner or if we experience delays
in the commencement of commercial shipments of new products and enhancements,
our business will suffer.

If our stock price is volatile or decreases significantly, you may not be able
------------------------------------------------------------------------------
to sell your stock at a favorable price at any given time or ever.
-----------------------------------------------------------------

     Stock prices and trading volumes for many Internet-related companies
fluctuate widely for a number of reasons, including some reasons which may be
unrelated to their businesses or results of operations. This market volatility,
as well as general domestic or international economic, market and political
conditions, could materially adversely affect the price of our common stock
without regard to our operating performance. In addition, our operating results
may not meet the expectations of public market analysts and investors. If this
were to occur, the market price of our common stock would likely decrease
significantly. Volatility in our stock price may prevent you from selling our
stock at a favorable price at any given time or knowing the appropriate time to
sell our stock. If our stock price drops, it is possible that you may never be
able to sell our stock at a favorable price.

Our officers, directors and affiliates may be able to control all matters
-------------------------------------------------------------------------
submitted for stockholder approval, and you will be subject to their decisions.
------------------------------------------------------------------------------

     Some of our stockholders own a large enough stake in us to have a
significant influence on the matters presented to stockholders. As a result,
these stockholders may be able to control all matters requiring stockholder
approval, including the election and removal of directors, the approval of
significant corporate transactions, such as any merger, consolidation or sale
of all or substantially all of our assets, and the control of our management
and affairs. Accordingly, that concentration of ownership may delay, defer or
prevent a change in control of Viador, impede a merger, consolidation, takeover
or other business combination involving Viador or discourage a potential
acquirer from making a tender offer or otherwise attempting to obtain control
of Viador, any of which could have a material adverse effect on the market
price of our common stock.

We have certain anti-takeover defenses that could prevent an acquisition of our
-------------------------------------------------------------------------------
business that you might favor.
-----------------------------

     Provisions of our certificate of incorporation and bylaws and the
provisions of Delaware law could have the effect of delaying, deferring or
preventing an acquisition of our business. For example, our board of directors
is divided into three classes to serve staggered three-year terms, we may
authorize the issuance of up to 10,000,000 shares of "blank check" preferred
stock, our stockholders may not take actions by written consent and our
stockholders are limited in their ability to make proposals at stockholder
meetings.

                                      29

<PAGE>


ITEM 3.   QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Investment Portfolio
--------------------
     Viador places its investments in instruments that meet high credit quality
standards, as specified in Viador's investment policy guidelines; the policy
also limits the amount of credit exposure to any one issue, issuer, or type of
instrument. Our interest income is sensitive to changes in the general level of
U.S. interest rates, particularly since the majority of our cash or cash
equivalent are in short-term instruments. Due to the short-term nature of our
investments, we believe that there is no material risk exposure. As of March
31, 2001, our cash and short-term investments had a weighted average interest
rate of 6.72%. The fair value of our cash and short- term investments
approximates the book value as of March 31, 2001 and December 31, 2000 of $1.0
million, and 16.0 million, respectively. We have limited exposure to financial
market risks, including changes in interest rates. The fair value of our
investment portfolio and the related income would not be significantly impacted
by a 10% increase or decrease in interest rates due mainly to the short-term
nature of our investment portfolio.

Impact of Foreign Currency Exchange Rate Change
-----------------------------------------------

     We develop products in the United States and market our products in North
America, Europe and the Asia-Pacific region. As a result, our financial results
could be affected by factors such as changes in foreign currency exchange rates
or weak economic conditions in foreign markets.  No foreign currency
derivatives were purchased or written during the three months ended March 31,
2001.

                                      30

<PAGE>


PART II - OTHER INFORMATION
-------   -----------------

ITEM 1.   LEGAL PROCEEDINGS.
------    -----------------

     On December 11, 2000, John Alves filed a Demand for Arbitration against
Viador with the Western Case Management Center of the American Arbitration
Association (AAA) in Fresno, California. Mr. Alves claimed that his employment
agreement with the Company entitles him to purchase more shares and at a lower
price per share than the Company has offered him. The complaint alleged breach
of written contract, breach of the implied covenant of good faith and fair
dealing, fraud, negligent misrepresentation, promissory estoppel, breach of
fiduciary duty, and conspiracy, and sought unspecified compensatory, emotional
distress, and punitive damages, and an award of interest and costs. On January
19, 2001, Mr. Alves amended his Demand, adding Stan Wang, Jonathan Harding, and
Raja Venkatesh as defendants. AAA accepted the Amended Demand on February 28,
2001. On April 13, 2001, Mr. Alves agreed to dismiss Raja Venkatesh and
Jonathan Harding as defendants.

     On November 15, 2000, Source Tagging Institute (STI) filed a complaint
against the Company with the Circuit Court for the City of Alexandria,
Virginia, alleging breach of contract and seeking damages. Also on November 15,
2000, Viador filed a complaint with the Circuit Court for Arlington County,
Virginia, against STI and William C. Bender, a director of STI, seeking
damages, return of property, and injunctive relief. STI and the Company entered
into a contract for STI to provide certain services to the Company. The Company
terminated the contract, and STI and Mr. Bender alleged that Viador had
breached the contract by failing to provide sufficient support for STI to
perform. The Company alledged conversion and other tortious acts against Bender
and STI.

     All of these proceedings are at a very early stage, and the Company is
unable to speculate as to their ultimate outcomes.

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

     (a) Modification to Instruments Defining the Rights of Common
         Stockholders.

         None

     (b) Material Limitations or Qualifications on Rights of Common
         Stockholders Resulting from the Issuance or Modification of Other
         Securities.

         None

     (c) Information Required by Item 701 of Regulation S-K.

         None

     (d) Use of Proceeds.  Paragraph references herein refer to the respective
         paragraphs of Item 701(f) of Regulation S-K.

        (1) The effective date of the registration statement for which the use
            of proceeds is being disclosed is October 25, 1999 and the
            Commission file number assigned to the registration statement is
            333-84041.

        (4) Information regarding the offering.

            (v) Amount of expenses incurred for the Company's account:

<TABLE>
                <S>                       <C>
                 Underwriting discount:    $2,898,000
                 Other expenses:           $1,270,000
                 Total expenses:           $4,168,000

</TABLE>


                                      31

<PAGE>

        (B)  All of such total expenses were payments to others (i.e., not to
             directors, officers and 10%


            (vi)  Net proceeds:   $37,232,000


            (vii) Estimated amount of net proceeds used for:





<TABLE>
                <S>                                               <C>

                  Construction of plant, building and facilities:  $        --
                  Purchase and installation of machinery
                    and equipment:                                   3,000,000
                  Purchases of real estate:                                 --
                  Acquisition of other businesses:                   1,000,000
                  Repayment of indebtedness:                                --
                  Working capital:                                  33,232,000
                  Short-term investments including certificates
                    of deposit, corporate bonds, federal bonds,
                    money market funds and commercial paper:                --
                                                                   -----------
                  Total:                                           $37,232,000
                                                                   ===========


</TABLE>

ITEM 5.  OTHER INFORMATION.
------   -----------------

     See "Management's Discussion and Analysis of Financial Condition and
Results of Operations - Recent Events" on page 13.


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

    (a)  Exhibits.
         --------

                              INDEX TO EXHIBITS

<TABLE>
<CAPTION>

Exhibit
  No.                Exhibit Description
-------   -------------------------------------------------
<S>     <C>
 ****3.1  Amended and Restated Certificate of Incorporation

 ****3.2  Amended and Restated Bylaws

    *4.1  Reference is made to Exhibit 3.1

    *4.2  Reference is made to Exhibit 3.2

    *4.3  Specimen Common Stock certificate

    *4.4  Amended and Restated Investors' Rights Agreement, among the
          Registrant and the parties listed on Schedule A thereto, dated May
          21, 1999

   *10.1  Form of Amended and Restated 1997 Stock Option and Incentive Plan

   *10.2  Form of 1999 Stock Incentive Plan

   *10.3  Form of 1999 Employee Stock Purchase Plan

   *10.4  Form of Indemnification Agreement for Officers and Directors

   *10.5  Assignment of Lease, by and between the Registrant and Valley of
          California, Inc., and Consent to Assignment, dated as of December 16,
          1997 and related office leases

   *10.6  Collateral Assignment, Patent Mortgage and Security Agreement, by and
          between the Registrant and Comerica Bank-California, dated March 4,
          1997
   *10.7  Revolving Credit Loan and Security Agreement, by and between the
          Registrant and Comerica Bank-California, dated March 17, 1999

   *10.8  SpaceSQL Version 4.0 License Agreement by and between the Registrant
          and IBM Corporation, dated September 18, 1998.

   *10.9  Software Marketing and Distributorship Agreement by and between the
          Registrant and Mitsui & Co. Ltd, dated June 26, 1997

  *10.10  Variable Rate Single Payment Note by and between the Registrant and
          Comerica Bank-California, dated June 29, 1999

 **10.11  Alza Corporation Sublease to Viador Inc., by and between the
          Registrant and Alza Corporation, dated January 31, 2000

 **10.12  Stock Purchase Agreement, by and among Messrs. Andreas Zwimpfer,
          David Keat, Charles Fraefel, Chula de Silva and Tim Moser and the
          Registrant, dated January 20, 2000

 ***10.13 Note Secured by Stock Pledge Agreement, by and between Raja Venkatesh
          and the Registrant, dated April 14, 2000

 ***10.14 Stock Pledge Agreement, by and between Raja Venkatesh and the
          Registrant, dated April 14, 2000

 ***10.15 Note Secured by Stock Pledge Agreement, by and between Raja Venkatesh
          and the Registrant, dated May 26, 2000

 ***10.16 Stock Pledge Agreement, by and between Raja Venkatesh and the
          Registrant, dated May 26, 2000

****10.17 Note Secured by Stock Pledge Agreement, by and between Steve Dille
          and the Registrant, dated July 13, 2000
****10.18 Stock Pledge Agreement, by and between Steve Dille and the
          Registrant, dated July 13, 2000
****10.19 Employment Agreement between Steve Dille and the Registrant dated
          November 30, 2000
****10.20 Employment Agreement By and Between Johnathan Harding and the
          Registrant dated October 5, 2000
****10.21 Mutual Release Agreement By and Between Viador GmbH and the
          Registrant Dated November 27, 2000

---------------------------

     * Incorporated by reference to Exhibits of the Registrant's Registration
       Statement on Form S-1 (File No. 333-84041) filed on October 25, 1999.


                                      33

<PAGE>

  **   Incorporated by reference to Exhibits of the Registrant's Annual Report
       on Form 10-K for the fiscal year ended December 31, 1999, filed with the
       Securities and Exchange Commission on March 30, 2000.

 ***   Incorporated by reference to the Registrant's Quarterly Report on Form
       10-Q, filed on August 14, 2000.

****   Incorporated by reference to the Registrant's Annual Report on Form 10-K
       for the fiscal year ended December 31, 2000, with the Securities and
       Exchange Commission dated March 31, 2001.


    (b)  Reports on Form 8-K. The Company did not file a Current Report on Form
         -------------------
         8-K with the Securities and Exchange Commission during the quarter
         ended March 31, 2001.


                                      34



<PAGE>

                                  SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.



                                              VIADOR INC.
                                              -----------
                                              (Registrant)


Date: May 15, 2001                   By:    /s/  DICK WARMINGTON
                                         -------------------------------
                                               Dick Warmington
                                   Chief Executive Officer and President
                                            (Authorized Officer)







Date: May 15, 2001                   By:       /s/ ALICE PILCH
                                         -----------------------------
                                                Alice Pilch
                                        Vice President of Finance and
                                             Corporate Controller
                                       (Principal Financial Officer
                                      and Principal Accounting Officer)


                                      35



</TABLE>