Though the film was shown in theaters around the world, all copies were thought lost until 2002, when about 22 minutes of the hour-and-a-half production were rediscovered at the British Film Institute archives. Since then, two reels and a fragment have been compiled, representing about half the completed film.
'C' Squadron of the 12th Lancers cavalry regiment was loaned to the production from its base at Weedon Barracks. More than 100 horses came from the London stables of Thomas Tilling, which at the time was the biggest supplier of horsepower in London. The regimental historian recorded, "An accommodating American made the rounds of all the pubs at night to pay for drinks. The fact that Napoleon could not ride and that a sergeant in the regiment appropriated Wellington's boots nearly prevented the film being made and 'C' Sqn from taking part in the most exciting, best paid and least painful battle of the regiment's long history."
The original prints of The Battle of Waterloo were made on nitrate film and have since been destroyed by irreversible nitrate decomposition. Only fragments survive in the British Film Institute archive. The entire film was thought lost until 2002, when 22 minutes were rediscovered in the archive. Additional fragments have been compiled, the equivalent of about two and a half reels of film.
The film recreated scenes from the battle "from the point of view of an ordinary soldier in the thick of the battle," but there was almost no dramatic or human interest.
The film was popular enough that a parody, Pimple's Battle of Waterloo, was hurriedly put into production and released later that year.