Arsenal went one step further in the UEFA Champions League this season than they did last season, but still could not get the job done and win the one trophy missing from their collection.
Paris Saint-Germain ran out 3-1 winners on aggregate to set up a final showdown with Inter Milan in Munich later this month.
Mikel Arteta was defiant after the game, claiming Arsenal were perhaps the "best team in Europe".
Speaking after the match had ended, Arteta said: "I think we deserve much more. When you analyse both games, who has been the best player, the MVP has been the same player, their goalkeeper. And the Champions League is decided in the boxes, and it's won the game for them because obviously today after 20 minutes and what happened in London as well, the result should have been very different.
"I'm very proud of the team. The team that I've seen today is probably one of the best, if not the best team in Europe. It gives me so much pride but at the same time I'm so upset, so annoyed that we didn't manage to do it."
While the Gunners may not have reached their ultimate goal, but going one stage further than last season has its advantages, particularly financial.
The UEFA Champions League prize fund is split between teams in various ways, with more money available the further in the competition you go.
The prize pot for the 2024/25 season was larger than that in 2023/24 and Arsenal will have pocketed £1.6million more for reaching the quarter-final stage this year than they did last.
Then, by qualifying for the semi-finals, the Gunners pocketed €15million (£12.7million) this year. That means Arsenal have banked an extra £14.3million in the 2024/25 season from the Champions League than they did in 2023/24.
New sporting director Andrea Berta will be hoping to use that cash to bolster Arteta's squad in the summer transfer window for an improved showing in 2025/26.
Sign up for Arsenal news direct to your email inbox
Mikel Arteta and Arsenal face a crucial summer transfer window if they want to push Liverpool and Manchester City for the title next season and you can stay up to date with every breaking news story, opinion and more...
By signing up to our newsletter here, you'll make sure you receive the best Gunners content including news, rumours, articles and fan opinions - direct into your inbox and all for free!
We also want to hear from you. Create an account here in just a few moments, so you can have your say on all things Arsenal, join the debate and take part in exclusive Q&As as well.