During the First World War, Captain Roy Cronin (Robert Taylor) meets and falls in love with ballerina Myra Lester (Vivien Leigh). They plan to marry, but Roy's regiment is called away into battle. Myra is fired after missing a performance to bid Roy farewell, but she and her friend, Kitty, seek alternative employment. However, when Roy is reported missing in battle, Myra falls into a life of prostitution. After losing all hope, Myra is overjoyed when she meets the safely returned Roy one evening while plying her trade on Waterloo bridge. However, their rediscovered happiness is threatened by Myra's dark secret.