This study explored the sequential interplay between challenges and regulatory processes in high- and low-performing collaborative groups. 66 students from a Finnish higher education institution participated in a collaborative task in groups of three. Approximately 34 h of video data were coded. The sequential analysis revealed that both groups had higher sequential transitions between cognitive regulation and emotional/motivational regulation, rather than cognitive challenges. The high-performing groups demonstrated a stronger sequential link between emotional/motivational regulation and cognitive regulation than the low-performing groups did when faced with cognitive challenges. The study establishes a theoretical grounding and advances our understanding of regulated learning. Since collaborative learning tasks are highly adopted in the higher education context, especially in the Nordic region, this study has practical implications for higher education in these countries and beyond as they seek to develop pedagogical methodologies and customised support to help collaborative groups resolve challenges by initiating regulatory processes.