Electron–positron annihilation into hadrons plus an energetic photon from
initial-state radiation allows the hadronic cross-section to be measured over
a wide range of energies at high luminosity meson factories. Weighted integrals
over this cross-section are a decisive input for electroweak precision tests.
A Monte Carlo event generator called PHOKHARA has been developed, which
simulates e^+ e^- \to hadrons + photon(s) at the NLO accuracy.
The latest tests and upgrades are presented in this paper.