I think this just happened when I was solo in Royal but not sure
so I will just explain this by an example:

3 teams remaining:

1. enemy1 (red)
2. ME (red) (with a faster time than enemy2)
3. enemy2 (red)

then enemy1 makes it to black and time is up

so for some reason I then end up being 3rd and knocked out although I made it to red faster than enemy2.
Is there any reason behind this or is it a bug?