Neither said he lost, Josh meant he "Lost it" as in lost his cool and got angry
He talked about it multiple times in other podcasts (something along the line that Khabib went savage on the guy and really beat him up for real)
Pretty much something similar to what Orlando Sanchez did recently, Only instead of a back fist and a push kick, he put a real beating on him that the guys at AKA stayed away like no one wanted any of that flare (Javier in your link mention that it was one of the instances were he wasn't able to reach him)
Khabib was training for his next fight and the Kickboxer tried to go rough, Khabib got angry and put a scary beating on him
I think Luke or DC talked about it too, that Conor didn't know what he was missing with and he could get really hurt, that he didn't know what Khabib can be when he get really mad.