The dictionary says:
fall short
fail to meet an expectation or standard.
Say a company set a sale target of 1 million dollar in revenue per year.
There are 2 situations:
Situation 1: the company just has 0.1 million dollar in revenue this year.
Situation 2: the company has 0.95 million dollar in revenue this year.
Can I say "the company fell short of its sales target" in both situations?
In both situations, the company failed to meet its expectation. The only difference is the latter almost got it and the former is far from getting it.