The New Zealand Breakers let an 11-point lead slip in the final quarter to lose 80-78 to the Taipans in Cairns.
It is their second straight loss in the Australian National Basketball League and drops them to third in the standings.
The Breakers Daryl Corletto had a three-point shot on the buzzer to win it, but fell short.
Thomas Abercrombie had 21 points for the Breakers, who now return home to prepare for Thursday night's match against Townsville.
Also last night Perth beat Wollongong 86-70 to go top of the standings.