Peterhead let a two-goal lead slip as a Clyde penalty four minutes into first-half injury time proved pivotal at chilly Broadwood.
The Blue Toon were two up after 26 minutes but goals from David Goodwillie either side of the break tied the score.
Peterhead midfielder Andrew McCarthy said: “It was a very frustrating result as I thought we were the better team. Some of the stuff we played in the first half was good.
“We have quality throughout but sometimes the final ball was just not there and we could not get a third goal.”
Brett Long made a fine early save to deny Ally Love and McCarthy made the most of that by helping set up the opener on 16 minutes when he swapped passes at the edge of the home box before being blocked.
The ball fell to Scott Brown and he picked out Russell McLean who stabbed home via the crossbar from six yards.
Clyde’s Robert Jones received a yellow card for simulation in the box before Peterhead doubled their advantage with McLean the architect this time as he surged down the left before rolling a pass to Grant Savoury who side-footed home his first senior goal.
Jim McInally’s side continued to carve open the home defence but another goal proved frustratingly elusive and they had to rely on Long to keep their goal intact just before the 45-minute mark when he made a fine stop from a Jones header.
Deep into added-on time Goodwillie raced onto a pass and Long darted from goal before colliding with the striker. It was enough for referee Peter Stuart to point to the spot.
McCarthy said: “I knew he was going to give it as referees at this level are quick to award penalties, but I am not sure it was a penalty.”
Goodwillie swept the spot-kick home and Clyde built on that boost on 52 minutes when the former Scotland striker cut in from the right-wing and curled a shot into the far corner.
The hosts threatened to turn things around totally and Goodwillie was only denied a hat-trick when Long touched his low shot past just before the hour mark.
Peterhead responded positively and looked set to take the lead again on 64 minutes when McLean danced beyond two defenders and cracked a shot towards goal, only to see it hit the bar.
Josh Mulligan had two late openings but was off target on both occasions with McCarthy adding: “It could have turned further away from us in previous seasons but the players we have just now ensured that did not happen.
“We stood up to the momentum going against us and we finished on top and looked the most likely to score again.”
Balmor boss McInally said: “There was lots in the first half I was pleased with but I was actually more pleased with our second half as we came through a rough patch and finished strongly.”