The Glovers registered just two shots on target at Huish Park as Sean Murray’s low strike earned the U’s victory.
Striker Olufela Olomola had an effort chalked out for a foul in the box by Omar Sowunmi prior to the visitors’ winner, a goal Way felt should have stood.
“We weren’t happy with the performance,” he said.
“We’re disappointed to lose our unbeaten run at home and we didn’t take our opportunity.
“There wasn’t enough adventure especially in the second half. We didn’t create enough opportunities and didn’t put them under pressure. There were too many that didn’t perform.
“We’re disappointed with the disallowed goal. Omar got in a little tussle but it wasn’t enough to give.
“We’ve got to respond and bounce back next Saturday.”
One positive from the match was the performance of Sowunmi.
The ex-Ipswich Town trainee featured for the first time since August in the absence of suspended Nathan Smith, and kept away forward Mikael Mandron at bay.
Way added: “I thought Omar did very well.
“Mandron is certainly a real attacking threat and I thought he handled him well.”