Azovmash won 97-88 at Privatbank EKA AEL Lemesos but suffered the cruellest of exits from the EuroCup on Tuesday when DKV Joventut and BC Khimki advanced to the quarter-finals on goal difference.
Kenan Bajramovic had 26 points and Khalid El-Amin 24 for the Ukrainian side, who won for the fourth time in six Group L games.
The result was not good enough.
DKV's 83-67 triumph over Russians Khimki left those two clubs with 4-2 records, too, and Azovmash's inferior points totals between the three teams has kept them out.
The visitors only led 23-21 after the first quarter but stretched that to 51-45 by half-time.
Rimas Girskis' men increased their lead to 73-60 by the end of the third quarter and held on for a comfortable win.
Had Khimki managed to win at DKV, then Azovmash would have advanced to the last eight but as it is, they will now turn their attention to the Ukrainian top flight and try to beat BC Kyiv to the title.