By far, honesty is the best policy with this. Be up front about it, and be ready to explain what happened. No excuses, own it completely.

Be able to explain where you did not perform to standard, what you learned from the experience, and what you've done to be a better aviator afterward.

There are lots and lots of professional pilots with black marks on their records. Recruiters and interviewers know this; they want to know how you got up and succeeded after you fell down.