Gutted gaffer Ian Murray admits his heartbroken Airdrie side didn't do enough against Queen's Park to merit a place in the Championship next season.
The Diamonds suffered a heartbreaking play-off final defeat for the second year running after Simon Murray's extra-time penalty for Spiders ensured Airdrie remain in League One.
Rhys McCabe, who scored from the spot in a 1-1 draw in the first leg, broke the deadlock after 13 minutes with a stunning 20-yard free-kick.
But Airdrie's advantage lasted just four minutes with Connor Smith sweeping home an equaliser after the hosts failed to clear their lines.
The sides couldn't be separated in normal time and with eight minutes remaining in the additional period, Dylan Easton clipped Murray in the box before the former Hibs striker dusted himself down to sink the spot-kick.
Just last week it was the Airdrie fans lapping up extra-time glory after an epic comeback win over Montrose, but on this occasion the home fans were left wondering what might have been as their nine-year wait for a return to the second tier goes on.
And Murray said his tired side didn't do enough at both ends of the pitch.
He said: "It's hard to take. It's very raw at the moment.
"But I'd like to say congratulations to Queen's Park and I wish them every success in the Championship.
"Obviously our boys are down. They are on their knees in the dressing room, and rightly so because they put a lot into that - and the whole season.
"There had to be a loser and, unfortunately, it was us.
"It's very cruel circumstances.
"Losing the goal so quickly was huge.
"It was a terrible goal to lose, quite frankly. We've lost two poor goals over the two legs and you can't do that in play-off games.
"We didn't do enough in terms of probing and testing their goalkeeper."
Last season it was Morton who inflicted play-off final defeat on the Diamonds but there was much more to this squad this season that made fans believe this was their year.
Having set a club record 20-game unbeaten run and pushing champions Cove Rangers all the way for the title, many felt promotion would be have been deserved.
But Murray knows these end of season shootouts are cut-throat.
He added: "Play-off games are really tight. We saw on Friday night with Arbroath and Inverness how cruel football can be.
"No matter what I say to the players and the supporters right now, it won't take the hurt away but we have to look at the long term progress of where we've come from over the last three-and-half years.
"We want to try and build on that and come back better.
"It is going to be difficult because we've had a great season and we've got some really good players.
"But disappointment is the emotion we have right now."
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