Prep. Heat oven to 350F. Grease and line a 9-inch round cake pan (or 8x8 pan) with parchment.
Mix dry ingredients. In a bowl, whisk flour, baking powder, baking soda, and salt.
Mix wet ingredients. In a separate large bowl, whisk sugar and eggs until smooth. Whisk in yogurt, oil, orange zest, orange juice, and vanilla.
Combine. Add dry ingredients to wet and stir just until combined.
Add cranberries. Toss cranberries with 1 tablespoon flour, then fold into the batter.
Bake. Spread batter evenly in the pan. Bake 35 to 45 minutes, until a toothpick comes out clean (a few moist crumbs are fine).
Glaze. Cool cake 10 to 15 minutes. Whisk powdered sugar with orange juice and sparkling wine (if using) until smooth and pourable. Drizzle over warm cake.
Serve. Slice and serve warm or at room temperature.