He did just win his party leadership vote. But:
First, the good news for Boris Johnson. Most of his MPs support him continuing as prime minister.
Now, the very bad news. More than 40 per cent of them - 148 - have declared they have no confidence in him continuing as leader.
While the prime minister, in a strictly arithmetical sense, won the vote, politically it is a devastating result which deals a hammer blow to his chances of survival.
When the confidence vote was called this morning, Number 10 were hopeful that the rebellion could be kept below the psychologically important figure of 100.
At the very least, they hoped that fewer than 133 would call on him to go, thereby ensuring the PM did better than Theresa May when she faced her own confidence vote in 2018.
However, after a string of MPs went public to declare they wanted him out, the rebellion was at the upper end of their worst case scenario.
So what does it mean in practice? Johnson will survive for now, but his prime ministerial authority is gone, making it next to impossible for him to perform a major reshuffle or force contentious legislation through parliament.