Orbit does not share or sell your data to third parties. When you are near an Orbit reader/system (that you have access to) and attempt to unlock a door, the app may use your location data as a way of validating that you are on site.
This location data is not accessible by Orbit if you are not already near your Orbit system. In order for Wave to Unlock/Touch to work reliably, the Orbit app needs Location Services always enabled. The app uses Bluetooth Low Energy (BLE), which iOS and Android consider as part of their Location Services.