After a heavy opening defeat to Germany and a bonkers second match against Zambia, the Matildas knew they needed a result against the USA to guarantee progression to the knockouts at the Olympics.
It would be a tall order against a rejuvenated and talented USA side, but the consequences for not doing so could be dire.
Here's how they got on in their final group game.
MORE OLYMPICS COVERAGE: Matildas vs USA live blog, analysis | Can Australia qualify for the quarter-finals?
Did the Matildas win? Score, result from Australia vs. USA
A late flurry from the Matildas wasn't enough, as they fell to a 2-1 defeat against the USA, with other results meaning their Olympic campaign is over in the group stage.
After their defensive woes from the first two group games, Tony Gustavsson made a tactical switch, drafting in Kaitlyn Torpey and switching to a back five.
The Matildas were happy to sit back in a low block and absorb the pressure from a talented USA attack, with the Americans peppering the Australia goal with shots.
Sophia Smith and Trinity Rodman in particular posed serious threats, forcing Matildas keeper Mackenzie Arnold into a series of saves in the first half, as they still found joy in behind Australia's bolstered defence.
Some desperate defending and a series of saves from Arnold kept out the US for much of the first half, but the weight of pressure and possession eventually told as they hit the front just before the break.
It was Australia's set piece woes that contributed to their undoing, as they failed to adequately clear a corner and allowed Rodman to ghost in at the far post and tap home from close range; the goal being confirmed after a lengthy VAR check.
Chances were few and far between for the Matildas in the opening period, with Mary Fowler going closest as her shot on the counter-attack was blocked, whilst Hayley Raso had a dangerous cross cleared away at the last moment.
Gustavsson introduced Clare Wheeler at the break, alongside Michelle Heyman and Emily van Egmond soon after as he reverted to a 4-4-2 as his side chased the game.
The USWNT continued to pile on the pressure, however, with Arnold pulling off a great stop to deny Naomi Girma.
Whilst the Matildas created a few half chances thanks to their changes, the USA remained in control and secured a deserved second goal in the 77th minute thanks to a screamer.
Korbin Albert came off the bench and seized on a poor pass by Wheeler, and punished her immediately by rifling a shot into the top corner, giving Arnold no chance.
Smith almost made it three straight after as she hit both posts with an effort from range.
Australia pulled what may turn out to be an important goal back through Alanna Kennedy, scoring her second goal of the tournament as she threw herself forward as an auxillary striker.
Kennedy almost got another straight away as she narrowly missed a Raso cross with a header, and the Matildas threw players forward in an attempt to get an equaliser that would secure qualification.
But they couldn't muster a crucial goal, and left the door open for Canada to progress, which they did with a 1-0 win over Colombia.
Matildas Paris Olympics schedule
The Matildas journey at the Olympics is over.
After their defeat and Canada's win over Colombia, Australia was the worst third placed team, and as a result failed to qualify for the quarter-finals.
It is their earliest exit at the tournament since their debut in 2000.
Matildas Olympics fixtures, schedule
| Date | Time (AEST) | Match | Location |
| Fri, Jul. 26 | 3 a.m. | Germany 3-0 Australia | Orange Velodrome (Marseille, France) |
| Mon, Jul. 29 | 3 a.m. | Australia 6-5 Zambia | Allianz Riviera (Nice, France) |
| Thu, Aug. 1 | 3 a.m. | Australia 1-2 USA | Orange Velodrome (Marseille, France) |
Women's football Olympics Group B table
As of 5:00 am AEST, Thursday August 1.
| Pos. | Country | Pld. | W | D | L | GD | Pts. |
| 1 | USA | 3 | 2 | 0 | 0 | +6 | 6 |
| 2 | Germany | 3 | 1 | 0 | 1 | +3 | 3 |
| 3 | Australia | 3 | 1 | 0 | 1 | -2 | 3 |
| 4 | Zambia | 3 | 0 | 0 | 2 | -7 | 0 |
