The Belfast Giants saw their 12-match winning run end on Saturday night after a rare defeat at the Odyssey.
Shea Guthrie put Coventry ahead in the 11th minute of the second period with David Phillips doubling their lead a minute later.
Luke Fulghum sealed the points for the vistors by firing in the third goal against the Elite League leaders with seven minutes left.
The Giants came into the game on the back of a 7-1 win over Dundee Stars.
Two Benoit Doucet goals put Belfast in control of the Elite League/Challenge Cup clash and while Jeff Hutchins replied for Dundee, Jon Pelle extended the home team's lead late in the first period.
After a goalless middle period, Pelle, Craig Peacock, Robert Dowd and Darryl Lloyd added further Giants goals.
The win moved the Giants to within a point of qualifying for the Challenge Cup semi-finals.