The process $e^+e^- \to \pi^0\gamma$ has been studied in the experiment with the SND detector at the VEPP-2M $e^+e^-$ collider. The $e^+e^- \to \pi^0\gamma$ cross section has been measured in the center-of-mass energy range from 0.60 to 1.38 GeV. The cross section is well described by the vector meson dominance model. From the fit to the cross section data we have determined the branching fractions $B(\rho\to\pi^0\gamma)=(4.20\pm0.52)\times10^{-4}$, $B(\omega\to\pi^0\gamma)=(8.88\pm0.18)\%$, $B(\phi\to\pi^0\gamma)=(1.367\pm0.072)\times10^{-3}$, and the relative phase between the $\rho$ and $\omega$ amplitudes $\varphi_{\rho}=(-12.7\pm4.5)^\circ$. Our data on the process $e^+e^- \to \pi^0\gamma$ are the most accurate to date.
The c.m.energy ($E$), integrated luminosity ($L$), detection efficiency ($\varepsilon$), number of selected signal events ($N_{\rm sig}$), radiative-correction factor ($1+\delta$), measured Born cross section ($\sigma$). For the cross section the first error is statistical, the second is systematic.
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