The Falcons went down 23-18 at Kingston Park yesterday afternoon, securing a late losing bonus point which moves them a step closer to safety in the Aviva Premiership.
"There was a touch of naivety here, a loose pass there and two missed kicks to touch," Richards is quoted as saying by Chronicle Live. "We missed two of our lineouts, too, and that little bit of accuracy would have stood us in good stead.
"However, you have to understand we were playing against probably the most accurate and consistent team in the competition. What Saracens do they do incredibly well.
"I would almost say I enjoyed it, but I never enjoy watching a defeat. The lads acquitted themselves really well. We were competitive for most of the game and the crowd was behind us."
Falcons return to league action in a fortnight's time when they take on London Wasps.