1
general::
Phrase(s): lose some amount of time
[for some amount of time] to be wasted. • We lost a lot of time waiting for Hermione. • He lost no time in getting out of there.
McGrawhill's American Idioms And Phrasal Verbs
2
general::
1. Operate too slowly. For example, My watch loses time, or This clock loses five minutes a day. This usage is always applied to a timepiece. [Mid-1800s] 2. Waste time, delay, as in We wanted to paint the entire porch today, but we lost time trying to find a color that matched the house. This expression is sometimes put negatively as lose no time, meaning "act immediately" or "not delay," as in We must lose no time in getting him to the hospital. [Late 1500s] Also see MAKE UP FOR LOST TIME.
American Heritage Idioms